Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely

Question: Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely?

Answer(s)

Raju Kanumuri: Yes. General exemption has been granted by Reserve Bank for transfer/sale of shares/debentures/bonds by NRIs/OCBs through stock exchanges if such transfers are made in favor of an Indian citizen or a person of Indian origin or a company incorporated in India and sale proceeds thereof are credited to NRO account.

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