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Investment in Corporate Debt Securities by Persons Resident Outside India through Special Rupee Vostro account

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....on 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 dated April 01, 2016 as amended from time to time and the....

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....he 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: - "(d) Investments of rupee surplus balances in Special Rupee Vostro....

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....ts) 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 company shall be in terms of the following: (i) The investments shall be subject to the investm....

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....e 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 existing paragraph 7A.6.(iii), the following paragraph shall be inserted, namely: - "(iii-a) report the transactions by SRVA ho....

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