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of <h1>RBI Updates Foreign Exchange Rules: New Payment Modes for Equity Shares on International Exchanges Added in Schedule XI.</h1> The Reserve Bank of India has amended the Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019. The amendments include the addition of Schedule XI, which outlines the mode of payment for purchasing or subscribing to equity shares of Indian companies listed on international exchanges. Payments can be made through banking channels to the company's foreign currency account or as inward remittance. Sale proceeds can be remitted outside India or credited to the holder's bank account. Additionally, reporting requirements for equity instrument transactions by Foreign Portfolio Investors and permissible holders have been updated.
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