Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2015 - 338/2015-RB - Foreign Exchange Management
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NRI subscription rights to chit funds permitted on a non repatriation basis through normal banking channels, without limit. The amendment inserts sub paragraph (2C) in Schedule 5 permitting a Non resident Indian to subscribe, without limit and on a non repatriation basis, to chit funds authorised by the Registrar of Chits or an officer authorised by the State Government, provided such subscriptions are made through normal banking channels.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
NRI subscription rights to chit funds permitted on a non repatriation basis through normal banking channels, without limit.
The amendment inserts sub paragraph (2C) in Schedule 5 permitting a Non resident Indian to subscribe, without limit and on a non repatriation basis, to chit funds authorised by the Registrar of Chits or an officer authorised by the State Government, provided such subscriptions are made through normal banking channels.
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