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of <h1>RBI Amends 2000 Regulations: Defines NRI, Allows Bonus Shares for Non-Residents, Sets FDI Caps and Reporting Rules.</h1> The Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2003, issued by the Reserve Bank of India, amends the 2000 regulations concerning foreign investment in Indian securities. Key amendments include defining 'Non-resident Indian' (NRI) and allowing Indian companies to issue bonus shares to non-resident shareholders under specific conditions. The regulations also detail the transfer of shares by non-residents, reporting requirements to the RBI, and sectoral caps on foreign investments. Restrictions on foreign investments in certain sectors and the conditions for automatic and government routes for foreign direct investment (FDI) are specified.
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