As announced in the Union Budget 2016-17, it has now been decided
to expand the investment basket of eligible instruments for investment
by FPIs under the corporate bond route to include the following:
(i) Unlisted corporate debt securities in the form of non-convertible
debentures/bonds issued by public or private companies subject to
minimum residual maturity of three years and end use-restriction on direct foreign investment in india real
estate business, capital market and purchase of land. The expression
‘Real Estate Business’ shall have the same meaning as assigned to it in
Foreign Exchange Management (Transfer or issue of Security by a Person
Resident outside India) Regulations, 2000 Notification
No.FEMA.362/2016-RB dated February 15, 2016. The custodian banks of FPIs
shall ensure compliance with this condition.Read more information visit at: http://bit.ly/2jToKZX
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