The Reserve Bank has notified amendments to the FEMA regulations related to purchases of shares of Indian companies on international exchanges. The central bank has also notified the amendments to Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations. In January, the government permitted the direct listing of securities by Indian companies on international exchanges of GIFT IFSC to boost foreign investments. The Department of Economic Affairs (DEA) in the Ministry of Finance amended Foreign Exchange Management (Non-debt Instruments) Rules and notified the ‘Direct Listing of Equity Shares of Companies Incorporated in India on International…
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