TMI BlogForeign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2024X X X X Extracts X X X X X X X X Extracts X X X X ..... ayment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2024 Notification No. FEMA. 395(2) /2024-RB. In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and consequent to the Foreign Exchange Management (Non-Debt Instrument) Rules, 2019, the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Man ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A. Mode of Payment (1) The amount of consideration for purchase / subscription of equity shares of an Indian company listed on an International Exchange shall be paid, - (i) through banking channels to a foreign currency account of the Indian company held in accordance with the Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2015, as amended from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cipal Regulations In sub-regulation (8) of Regulation 4 of the Principal Regulations , the existing provision shall be substituted by the following, namely: LEC(FII): (i) The Authorised Dealer Category I banks shall report to the Reserve Bank in Form LEC (FII) the purchase / transfer of equity instruments by FPIs on the stock exchanges in India. (ii) The Investee Indian company through an Authoris ..... X X X X Extracts X X X X X X X X Extracts X X X X
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