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The Reserve Bank of India issues the Foreign Exchange Management (Debt Instruments) (Third Amendment) Regulations, 2024 to allow persons resident outside India to buy and sell Sovereign Green Bonds in the International Financial Services Centre. Persons resident outside India who maintain a securities account with a depository in the International Financial Services Centre in India may purchase or sell Sovereign Green Bonds issued by the Government of India. The buyers pay the consideration amount through inward remittance from abroad or from eligible foreign currency accounts. The sale or maturity proceeds may be remitted outside India net of applicable taxes.
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RESERVE BANK OF INDIA (Financial Markets Regulation Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 2nd August, 2024 Foreign Exchange Management (Debt Instruments) (Third Amendment) Regulations, 2024 No. FEMA.396(3)/2024-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 amendment 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:
