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Can a NRI purchase securities in the secondary market? What are the approvals required in the new FEMA rules?

April 26, 2017approvals FEMA market NRI purchase rules Secondary securities

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Can a NRI purchase securities in the secondary market? What are the approvals required in the new FEMA rules?

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Purchases made in the secondary market are investments under Portfolio Investment Scheme. Permission to buy in the market is given by authorised dealers under the Portfolio Investment Scheme on repatriable/ non-repatriable basis. The said permission is a one-time general permission.