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| Date: 01 Jun 2005 | | Non-repatriation Undertaking | | 10 |
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Purchase of Shares of Indian Companies by Private Arrangement |
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10C.8 |
NRIs/OCBs require permission of Reserve Bank for purchasing shares of Indian companies by |
| private arrangement. For this purpose, application in form FNC 7 together with the non-repatriation undertaking in form NRU may be submitted by the non-resident investor to the office of the Reserve Bank in whose jurisdiction the company's Head/Registered Office is situated. |
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Investment in Domestic Public Sector |
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and Private Sector Mutual Funds |
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10C.9 |
NRIs/OCBs will be permitted to invest in Mutual Funds floated by domestic public sector and |
| private sector mutual funds on non-repatriation basis. Applications for the purpose should be made to Reserve Bank in form ISD by the concerned bank/institution. The non-resident investors do not need separate approval from Reserve Bank for the purpose. | |
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