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Is permission of Reserve Bank required by NRIs for sale/transfer of shares.debentures of Indian companies to other NRIs?

April 26, 2017Bank companies for sale indian NRIs permission Reserve transfer

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Is permission of Reserve Bank required by NRIs for sale/transfer of shares.debentures of Indian companies to other NRIs?

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• No. Transfer of shares/debentures of Indian companies by NRIs to other non-residents does not require permission of Reserve Bank. However, the transferee NRI would need permission for purchase of such shares for which an application is required to be made to Reserve Bank in form FNC 7.