Central bank allows non-resident rupee account holders to trade dated government securities, T-bills, NCDs and commercial paper under Reg. 7(1)

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Full Text of the Document

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....The central bank amends the Debt Instruments Regulations to permit persons resident outside the country who maintain rupee accounts under the Deposit Regulations (reg. 7(1)) to buy or sell dated government securities, treasury bills, non-convertible debentures/bonds and commercial paper issued by domestic companies, subject to terms and conditions set by the central bank. Payments for such purchases must be made from funds held in the specified rupee accounts. The amendments take effect on publication in the Official Gazette.....