RBI Permits PROIs Maintaining a Rupee Account to Purchase/Sell Dated Government Securities/Treasury Bills
- Blog|News|FEMA & Banking|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 25 October, 2023
Latest from Taxmann
Notification No. FEMA.396 (2)/2023-RB; Dated: 16.10.2023
RBI has notified the FEM (Debt Instruments) (Second Amendment) Regulations, 2023. As per the amended norms, persons resident outside India (PROIs) maintaining a rupee account as per reg. 7 of FEM (Deposit) Regulations can purchase or sell dated Government securities/treasury bills as per terms and conditions specified by the RBI.
Further, the amount of consideration for the purchase of such securities/bills must be paid out of funds held in a rupee account. Also, the sale/maturity proceeds of instruments held by PROIs must be credited to the said rupee a/c.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
