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of <h1>RBI permits non-residents with rupee accounts under Regulation 7(1) to buy and sell Indian debt securities using those funds</h1> The Reserve Bank amended the Foreign Exchange Management (Debt Instruments) Regulations to permit persons resident outside India who maintain rupee accounts under regulation 7(1) of the Deposit Regulations to purchase and sell dated government securities, treasury bills, non-convertible debentures/bonds and commercial paper issued by Indian entities, subject to RBI-prescribed terms and conditions; the consideration for such transactions must be paid from funds held in the specified rupee account. The amendments take effect on publication in the Official Gazette.
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