RBI updates Master Direction on Foreign Investment in India

The Reserve Bank of India (RBI) vide notification dated January 12, 2018 has updated the Master Direction on Foreign investment in India. These directions deals with a person resident outside India may hold, own, transfer or invest in a security in India if such security was acquired, held or owned by such person when he was resident in India or inherited from a person who was resident in India. Such investment will be held by such person on a non-repatriable basis.

[RBI/FED/2017-18/60 FED Master Direction No. 11/2017-18]