Financial Daily from THE HINDU group of publications
Thursday, Mar 27, 2003
Financial Daily from THE HINDU group of publications Thursday, Mar 27, 2003 |
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Markets
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Derivatives Markets NRIs can invest in exchange traded derivative deals Our Bureau
NEW DELHI, March 26 A NON-RESIDENT Indian (NRI) can invest in exchange traded derivative contracts that have been approved by the Securities and Exchange Board of India from time to time. Official sources said that such investments would have to be done out of INR funds held in India on a non-repatriable basis. The investments would be subjected to the limits prescribed by SEBI and would not be eligible for repatriation benefits. The Reserve Bank of India has now amended the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 to facilitate such investments.
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