https://www.taxtmi.com/circulars?id=62196 Sub-regulation (3) of Regulation 6 of the FEMA (Deposit) Regulations, 2016 permitting companies to accept deposits through issuance of Commercial Paper has been deleted to align FEMA Deposit Regulations with other statutes and regulations that treat CPs as money market instruments and exclude CP proceeds from the definition of deposits; FEMA provisions already allow non-resident investment in Indian CPs. Category I Authorised Dealers are to notify constituents; the circular is issued under the Foreign Exchange Management Act and without prejudice to other statutory permissions. en-us Fri, 16 Aug 2019 00:00:00 +0530 Sat, 17 Aug 2019 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62196 Sub-regulation (3) of Regulation 6 of the FEMA (Deposit) Regulations, 2016 permitting companies to accept deposits through issuance of Commercial Paper has been deleted to align FEMA Deposit Regulations with other statutes and regulations that treat CPs as money market instruments and exclude CP proceeds from the definition of deposits; FEMA provisions already allow non-resident investment in Indian CPs. Category I Authorised Dealers are to notify constituents; the circular is issued under the Foreign Exchange Management Act and without prejudice to other statutory permissions. Circulars FEMA Fri, 16 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62196