Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2016 - 361/2016-RB - Foreign Exchange Management
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Non Resident Indian investment regimes clarified: repatriation and non repatriation pathways, account routing and sectoral limitations. The amendment revises the definition of Non-Resident Indian (NRI) and separates NRI acquisition of securities into repatriation basis under the Portfolio Investment Scheme and non repatriation basis. Schedule 3 permits specified purchases through designated authorised dealer branches subject to individual and aggregate ceilings, delivery and custody requirements, FDI sectoral caps, reporting to the Reserve Bank, and routing through an NRE (PIS) account with defined permitted credits and debits. Schedule 4 permits unrestricted non repatriation domestic investments except in prohibited sectors, mandates payment and credit routing rules, and disallows repatriation of principal and appreciation.
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Provisions expressly mentioned in the judgment/order text.
Non Resident Indian investment regimes clarified: repatriation and non repatriation pathways, account routing and sectoral limitations.
The amendment revises the definition of Non-Resident Indian (NRI) and separates NRI acquisition of securities into repatriation basis under the Portfolio Investment Scheme and non repatriation basis. Schedule 3 permits specified purchases through designated authorised dealer branches subject to individual and aggregate ceilings, delivery and custody requirements, FDI sectoral caps, reporting to the Reserve Bank, and routing through an NRE (PIS) account with defined permitted credits and debits. Schedule 4 permits unrestricted non repatriation domestic investments except in prohibited sectors, mandates payment and credit routing rules, and disallows repatriation of principal and appreciation.
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