Can persons resident in India subscribe to bonds (foreign currency/INR) issued by eligible ECB borrowers in overseas centres or IFSCs as permitted in the ECB framework? https://www.taxtmi.com/manuals?id=5832 Persons resident in India are prohibited from subscribing to bonds issued by eligible ECB borrowers in overseas centres or IFSCs; authorized dealer banks must ensure residents have no direct or indirect exposure, with exceptions limited to permitted entities such as foreign branches or subsidiaries of Indian banks, and contraventions invite penal action under FEMA. en-us Thu, 21 Nov 2024 14:13:00 +0530 Thu, 21 Nov 2024 14:13:00 +0530 TaxTMI RSS Generator Can persons resident in India subscribe to bonds (foreign currency/INR) issued by eligible ECB borrowers in overseas centres or IFSCs as permitted in the ECB framework? https://www.taxtmi.com/manuals?id=5832 Persons resident in India are prohibited from subscribing to bonds issued by eligible ECB borrowers in overseas centres or IFSCs; authorized dealer banks must ensure residents have no direct or indirect exposure, with exceptions limited to permitted entities such as foreign branches or subsidiaries of Indian banks, and contraventions invite penal action under FEMA. Manuals FEMA Thu, 21 Nov 2024 14:13:00 +0530 https://www.taxtmi.com/manuals?id=5832