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of <h1>RBI Amends Rules: Indians Can Acquire Foreign Securities for Director Roles, Subject to Limits and Approvals.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2000. Effective upon publication in the Official Gazette, the amendment allows individuals residing in India to acquire foreign securities as qualification shares for holding director positions in foreign companies, with a limit of 1% of the company's paid-up capital and a maximum consideration of US$ 20,000 annually. Individuals seeking to exceed these limits must seek prior approval from the Reserve Bank. Additionally, individuals can acquire rights shares and sell qualification or rights shares without prior approval.
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