Is the Reserve Bank permission required for sale of Government securities?

Question: Is permission of Reserve Bank required for sale/transfer of Government securities/units?


Raju Kanumuri: No. Authorised dealers have been permitted to undertake sale of Government securities/units on behalf of NRIs without prior approval of Reserve Bank. Sale/maturity proceeds can be remitted abroad if the original investment was made out of funds remitted from abroad or funds in NRE/FCNR accounts. Otherwise, they will have to be credited to NRO account of the holder.

Source : Reserve Bank Of India

Your Answer

Related Questions

Q: Are persons resident in India required to surrender foreign exchange acquired/held by them?

A: Yes. Residents receiving foreign exchange from abroad by way of gift, inheritance, remuneration for services rendered, etc. are required to bring it to India within three months acquiring the...

Q: Are Returning Indians permitted to acquire fresh foreign currency assets by remittance from India?

A: Yes, provided the funds for the purpose are drawn out of their Resident Foreign Currency Accounts Source : Reserve Bank Of India

Q: Do resident donees or legal heirs require the Reserve Bank permission to receive or hold foreign currency assets by way of gift or inheritance from Returning Indians or from those holding assets since prior to July 8, 1947 with the permission of the ..?

A: No. Resident donees or legal heirs of the persons covered under the general permission/exemption granted by the Government of India can continue to maintain their foreign currency assets provided...

Q: What is the Resident Foreign Currency Account Scheme?

A: This is a Scheme drawn up by the Reserve Bank permitting Returning Indians to open foreign currency accounts with banks in India for holding funds brought by them to India. This facility replaces...