Headline Rewrite: RBI Notifies Amendments to FEMA Regulations for Overseas Listings
Reserve Bank amends FEMA regulations to facilitate Indian companies' direct listing on international exchanges, including GIFT IFSC, to attract foreign investment.
![Headline Rewrite: RBI Notifies Amendments to FEMA Regulations for Overseas Listings](https://devdiscourse.blob.core.windows.net/imagegallery/27_06_2019_18_37_21_0109025.png)
- Country:
- India
The Reserve Bank has notified amendments to the FEMA regulations related to purchases of shares of Indian companies on international exchanges.
The central bank has also notified the amendments to Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations.
In January, the government permitted the direct listing of securities by Indian companies on international exchanges of GIFT IFSC to boost foreign investments. The Department of Economic Affairs (DEA) in the Ministry of Finance amended Foreign Exchange Management (Non-debt Instruments) Rules and notified the 'Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme'.
Also, the Ministry of Corporate Affairs (MCA) has issued Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024.
On July 28 last year, Finance Minister Nirmala Sitharaman made an announcement regarding the direct listing of Indian Companies at GIFT- IFSC exchanges in the first phase.
International stock exchanges at GIFT-IFSC - India International Exchange and NSE International Exchange - have been prescribed as permitted stock exchanges. These exchanges are under the regulatory supervision of the International Financial Services Centres Authority (IFSCA).
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- the International Financial Services Centres Authority
- FEMA
- GIFT-IFSC - India International Exchange
- GIFT
- India
- Foreign Exchange Management Foreign Currency Accounts
- NSE International Exchange
- Permissible Jurisdictions Rules
- Nirmala Sitharaman
- Companies Incorporated
- Indian
- IFSC
- Finance
- The Department of Economic Affairs
- The Reserve Bank
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