This is a quick update to let you know that the Reserve Bank of India (“RBI”) has in a notification dated October 17, 2019 newly introduced the Foreign Exchange Management (Debt Instruments) Regulations, 2019 which is superseding the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017.
Further, the RBI has in another notification of the same date rolled out the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, which is also superseding the Foreign Exchange Management (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2017 as well as the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018.
Source: Reserve Bank of India
