​Foreign Exchange Management (Fourth Amendment) Rules, 2024

On 16th August, 2024, the Ministry of Finance notified the Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2024, amending certain provisions of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (‘FEMA NDI Rules’).

Key Amendments

Cross-Border Share Swaps

  • The amendments focus on simplifying cross-border share swaps, allowing Indian companies to issue or transfer equity instruments in exchange for foreign company equity instruments.

Downstream Investments by OCI-owned Entities

  • The changes provide clarity on the treatment of downstream investments made by entities owned by Overseas Citizens of India (OCI) on a non-repatriation basis, aligning them with the treatment of ....
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