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of <h1>RBI Amends 2000 Regulations to Allow NRIs Unlimited Purchase of Certain Securities on Non-Repatriation Basis Under Regulation 7(2)</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Fifth Amendment) Regulations, 2014, effective from May 22, 2014. This amendment modifies the 2000 regulations to include provisions for listed non-convertible/redeemable preference shares or debentures. These securities, issued under Regulation 7(2), are now recognized in various clauses of Schedule 5. Additionally, Non-Resident Indians can purchase these securities on a non-repatriation basis without limit. These changes aim to streamline foreign investment in India's securities market.
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