Can NRIs purchase existing shares/debentures

Question: Can NRIs purchase existing shares/debentures of Indian companies by private arrangement?

Answer(s)

Raju Kanumuri: Yes. Reserve Bank permits NRIs, on application in form FNC 7, to purchase shares/debentures of existing Indian companies on non-repatriation basis. An undertaking about non-repatriation is to be given in form NRU.

Source : Reserve Bank Of India

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