TaxTMI 
TaxTMI 
Investment in Corporate Debt Securities by Persons Resident Outside India through Special Rupee Vostro account
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.... India through Special Rupee Vostro account Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 1 to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified, vide Notification No. FEMA. 396/2019-RB dated October 17, 2019, and the Foreign Exchange Management (Deposit) Regulations, 2016 notified, vide Notification No. FEMA. 5(R)/2016-RB dat....
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....and commercial papers issued by an Indian company. 3. The Master Direction has been updated as under: (a) In paragraph 3 (i) (e) of Part-1, the words "Government Securities" shall be replaced by the words, namely: - "eligible instruments" (b) In paragraph 4.2 of Part-2, under the section 'Note', after the existing paragraph (c), the following paragraph, shall be inserted, namely: - ....
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.... 1A(b) and paragraph 1A(c) of Schedule 1 to Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified, vide, Notification No. FEMA. 396/2019-RB dated October 17, 2019." (e) In Part-5A, after the existing paragraph 7A.4, the following paragraph shall be inserted, namely: - "7A.4.1 Investments in non-convertible debentures/bonds and commercial papers issued by an Indian c....
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....l be replaced by the words, namely: - "eligible instruments" (g) In Part-5A, after the existing paragraph 7A.6.(i), the following paragraph shall be inserted, namely: - "(i-a) facilitate opening of separate demat accounts for SRVA holders for holding all their investments in non-convertible debentures/bonds and commercial papers issued by an Indian company" (h) In Part-5A, after the....