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The Reserve Bank of India amends the Foreign Exchange Management (Debt Instruments) Regulations, 2019 to permit persons resident outside India who maintain a rupee account to purchase or sell dated Government Securities and treasury bills. Persons resident outside India must pay the purchase consideration using funds held in their specified rupee account. They must receive net sale or maturity proceeds directly into that same rupee account. The regulations take effect on the date of publication in the Official Gazette.
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RESERVE BANK OF INDIA (Financial Markets Regulation Department) (CENTRAL OFFICE) NOTIFICATION MUMBAI, the 16th October, 2023 Foreign Exchange Management (Debt Instruments) (Second Amendment) Regulations, 2023 No. FEMA.396(2)/2023-RB. — In exercise of the powers conferred by clause (a) of sub-section (2) of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 ( Notification No. FEMA.396/2019-RB dated October 17, 2019 ) (hereinafter referred to as 'the Principal Regulation'), namely:-
(Dimple Bhandia) Chief General Manager Foot Note:- The Principal Regulation was published in the Official Gazette vide G.S.R.No.796(E) dated October 17, 2019 in Part II, Section 3, sub-Section (i) and amended, vide:
