RBI allow to purchase Shares, Debentures at Face Value to NRIs

The RBI on 26th September Wednesday allows NRIs can make investment in an Indian company at the face value of shares or debentures subject to compliance with FDI scheme. 

"It has been decided that in cases, where non-residents (including NRIs) make investment in an Indian company in compliance with the provisions of the Companies Act.., such investments may be made at the face value subject to their eligibility to invest under the FDI scheme," RBI said in a circular.

As per the existing norms, non-residents Indians are allowed to pick up shares or convertible debentures of an Indian company up to the level and subject to terms and conditions set out under the FDI scheme.

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