Para 2.9
- Document type
- Policy
- Dated
- Category
- Policy
Government Approval
- 2.9
- RBI has granted general permission under Foreign Exchange Management Act (FEMA ) in respect of proposals approved by the Government. Indian companies getting foreign investment approval through FIPB route do not require any further clearance from RBI for the purpose of receiving inward remittance and issue of shares to the foreign investors. Such companies are, however, required to notify the Regional Office concerned of the RBI of receipt of inward remittances within 30 days of such receipt and to file the required document with the concerned Regional Offices of the RBI within 30 days after issue of shares to the foreign investors.