https://www.taxtmi.com/circulars?id=52170 Overseas entities having direct or indirect equity participation by Indian parties shall not offer rupee linked financial products (including non deliverable trades tied to rupee exchange rates or Indian market indices) without specific prior approval of the Reserve Bank of India; any such activity under the overseas direct investment automatic route will be treated as a contravention of FEMA regulations and attract action under FEMA, 1999. Category I Authorised Dealer banks must notify their constituents. en-us Thu, 25 Apr 2013 00:00:00 +0530 Fri, 26 Apr 2013 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52170 Overseas entities having direct or indirect equity participation by Indian parties shall not offer rupee linked financial products (including non deliverable trades tied to rupee exchange rates or Indian market indices) without specific prior approval of the Reserve Bank of India; any such activity under the overseas direct investment automatic route will be treated as a contravention of FEMA regulations and attract action under FEMA, 1999. Category I Authorised Dealer banks must notify their constituents. Circulars FEMA Thu, 25 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52170