Purchase/sale of shares and /or convertible debentures by Overseas Corporate Bodies (OCBs) on a Stock Exchange in India under the Portfolio Investment Scheme (PIS)

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....cheme (PIS) RESERVE BANK OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI 400 001 A.P. (DIR Series) Circular No.13 November 29, 2001 To All Authorised Dealers in Foreign Exchange Dear Sirs / Madam, Purchase/sale of shares and /or convertible debentures by Overseas Corporate Bodies (OCBs) on a Stock Exchange in India under the Portfolio Investment Scheme (PIS) A....

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....therto. 4. Accordingly, Notification No. FEMA 46/2001-RB dated November 29, 2001 has been issued amending the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000. A copy of the notification is enclosed herewith for ready reference. 5. It is, however, clarified that OCBs will continue to enjoy the facilities of opening and maintaini....