10C.16B
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Investment in Bonds issued by Public Sector Undertakings (PSUs)
NRIs/OCBs will be permitted to invest in the Bonds issued by Public Sector Undertakings (PSUs) in India with repatriation benefits. The concerned PSU should obtain the necessary approval from Government of India for raising funds through issue of bonds and adhere to the guidelines issued by Government of India, Ministry of Finance, in this regard. Applications for necessary permission should be made by the concerned PSU to Reserve Bank (Central Office) in form ISD(R) along with a certified copy of the approval of Government of India for issue of bonds