The FEMA rules pertaining to the acquisition of Indian company shares on foreign exchanges have been amended, as announced by the Reserve Bank.
The Foreign Exchange Management (Foreign Currency Accounts by a Person Residing in India) Regulations have been amended, as officially announced by the central bank.
Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme was notified by the Department of Economic Affairs (DEA) in the Ministry of Finance, which also revised the Foreign Exchange Management (Non-debt Instruments) Rules.
Additionally, the Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024 have been released by the Ministry of Corporate Affairs (MCA).Finance Minister Nirmala Sitharaman announced on July 28 of last year that Indian companies would be directly listed on GIFT-IFSC exchanges in the first phase.
The NSE International Exchange and GIFT-IFSC – India International Exchange – are designated as approved international stock exchanges.IFSCA, the International Financial Services Centres Authority, is in charge of overseeing these exchanges.
