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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Amends Regulation 7: Indian Financial Services Can Invest Abroad if Profitable for 3 Years and Meet Criteria</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2009, effective from September 6, 2006. These regulations permit Indian parties in the financial services sector to invest in entities outside India, provided they meet specific criteria: earning a net profit in the preceding three financial years, being registered with the relevant regulatory authority in India, obtaining necessary approvals from authorities in India and abroad, and adhering to prudential capital adequacy norms. This amendment modifies Regulation 7 of the 2004 regulations.
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