The
Reserve Bank of India today released on its website for comments and feedback,
the revised procedure for reporting the transfer of shares/convertible debentures,
by way of sale, from resident to non-resident and vice versa under the Foreign
Direct Investment Scheme. The procedure has been revised to capture the details
of investment in a more comprehensive manner. The revised procedure also proposes
to introduce KYC check on the remitter/investor. Comments/feedback on the proposals
contained in the draft
guidelines may be sent by December 26, 2008 by email
or to the Chief General Manager-in-Charge, Reserve Bank of India, Foreign Exchange
Department, Foreign Investment Division, Central Office Building, 11th Floor,
S. B. Singh Marg, Mumbai-400001. Alpana
Killawala Chief General Manager Press Release : 2008-2009/934 |
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