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of <h1>RBI 16th Amendment: 49% Foreign Investment in Indian Pension Funds Allowed via Automatic Route, Comply with PFRDA Act.</h1> The Reserve Bank of India issued the Sixteenth Amendment to the Foreign Exchange Management Regulations, 2000, concerning the transfer or issue of security by persons residing outside India. Effective from its publication date, the amendment modifies Schedule 1, Annex B, entry F.10, allowing 49% foreign investment in Indian pension funds via the automatic route. Such investments must comply with the Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013, including obtaining necessary registrations and ensuring Indian ownership and control as defined by the government and PFRDA.
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