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of <h1>RBI Amends Foreign Exchange Regulations: NRIs Can Invest in Indian Stocks, Excluding Print Media Sector, with New Reporting Rules.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000. Effective immediately, the amendment specifies that Non-resident Indians (NRIs) may purchase shares or convertible debentures of Indian companies on a stock exchange under the Portfolio Investment Scheme, excluding those in the Print Media sector. NRIs and Overseas Corporate Bodies (OCBs) can also purchase on a non-repatriation basis outside the Portfolio Investment Scheme, with similar restrictions. The amendment updates Schedule 3, removing references to OCBs and revising reporting requirements for authorized dealers.
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