Uma
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veeru
answered
However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation
Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI.
An overseas JV / WOS, having direct or indirect equity participation by an Indian party, shall not offer financial products linked to
Indian Rupee (e.g. non-deliverable trades involving foreign currency, rupee exchange rates, stock indices linked to Indian market, etc.)
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Anil
answered
•Real estate as defined in Regulation 2(p) of the Notification and banking business are the prohibited sectors for overseas direct investment.
•However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI.
•An overseas JV / WOS, having direct or indirect equity participation by an Indian party, shall not offer financial products linked to Indian Rupee (e.g. non-deliverable trades involving foreign currency, rupee exchange rates, stock indices linked to Indian market, etc.) without the specific approval of the Reserve Bank.
veeru
answered
Real estate as defined in Regulation 2(p) of the Notification and banking business are the prohibited sectors for overseas direct
investment.
However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation
Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI.
Archana
answered
Hie Rohit,
- Real estate as defined in Regulation 2(p) of the Notification and banking business are the prohibited sectors for overseas direct investment.
- However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI.
- An overseas JV / WOS, having direct or indirect equity participation by an Indian party, shall not offer financial products linked to Indian Rupee (e.g. non-deliverable trades involving foreign currency, rupee exchange rates, stock indices linked to Indian market, etc.) without the specific approval of the Reserve Bank.
- Any incidence of such product facilitation would be treated as a contravention of the extant FEMA regulations and would consequently attract action under the relevant provisions of FEMA, 1999
jitendra etikala
answered
Real estate as defined in Regulation 2(p) of the Notification and banking business are the prohibited sectors for overseas direct investment.
However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI.
An overseas JV / WOS, having direct or indirect equity participation by an Indian party, shall not offer financial products linked to Indian Rupee (e.g. non-deliverable trades involving foreign currency, rupee exchange rates, stock indices linked to Indian market, etc.) without the specific approval of the Reserve Bank. Any incidence of such product facilitation would be treated as a contravention of the extant FEMA regulations and would consequently attract action under the relevant provisions of FEMA, 1999
ARJUN PRATAP SINGH
answered
Dear Friend,
as far as your query is concerned that What are the prohibited activities for overseas direct investment?
Let me informed that A. Real estate as defined in Regulation 2(p) of the Notification and banking business are the prohibited sectors for overseas direct
investment.
However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation
Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI.
An overseas JV / WOS, having direct or indirect equity participation by an Indian party, shall not offer financial products linked to
Indian Rupee (e.g. non-deliverable trades involving foreign currency, rupee exchange rates, stock indices linked to Indian market, etc.)
without the specific approval of the Reserve Bank. Any incidence of such product facilitation would be treated as a contravention of the
extant FEMA regulations and would consequently attract action under the relevant provisions of FEMA, 1999
Hope answer was helpful to you
Regards,
Arjun Pratap Singh
