RBI Updates Foreign Investment Rules for Residents Outside India with New 2017 Regulations under FEMA Act.
The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017, under the Foreign Exchange Management Act, 1999. This notification, dated November 7, 2017, supersedes previous notifications FEMA 20/2000-RB and FEMA 24/2000-RB from May 3, 2000. It outlines the regulatory framework governing investments in India by individuals residing outside the country. These regulations are enacted under the authority granted by specific sections of the Foreign Exchange Management Act, aiming to manage foreign investment activities in India.
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