Tuesday, October 15, 2013

RBI relaxes NRI investment norms

The Reserve bank of India (RBI) has eased foreign direct investment (FDI) norms and allowed banks
to provide guarantees on behalf of NRIs to acquire shares and debentures in Indian companies. To provide operational flexibility and ease the procedures, it has been decided by RBI to permit banks to issue bank guarantee, without prior approval of the Reserve Bank, on behalf of non-resident acquiring shares or convertible debentures of an Indian company though open offers, delisting and exit offers.

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