Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2019 - FEMA 20 (R) (4) /2019-RB - G.S.R. 312(E) - Foreign Exchange Management

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Foreign investment in municipal bonds expanded as non-residents permitted to purchase municipal debt under amended FEMA regulations. The amendment defines Municipal Bonds as debt instruments issued by municipalities under Article 243Q and adds municipal bonds to Schedule 5 as permissible securities for purchase and sale by persons resident outside India, thereby including municipal debt within the FEMA regime for cross-border investment in non capital instruments.

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Foreign investment in municipal bonds expanded as non-residents permitted to purchase municipal debt under amended FEMA regulations.

The amendment defines Municipal Bonds as debt instruments issued by municipalities under Article 243Q and adds municipal bonds to Schedule 5 as permissible securities for purchase and sale by persons resident outside India, thereby including municipal debt within the FEMA regime for cross-border investment in non capital instruments.

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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2019 - FEMA 20 (R) (4) /2019-RB - G.S.R. 312(E) - Foreign Exchange Management

Foreign investment in municipal bonds expanded as non-residents permitted to purchase municipal debt under amended FEMA regulations.

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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Third Amendment) Regulations, 2019 - FEMA 20 (R) (4) /2019-RB - G.S.R. 312(E) - Foreign Exchange Management

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Foreign investment in municipal bonds expanded as non-residents permitted to purchase municipal debt under amended FEMA regulations.

Topics