RBI issues TISPRO 2017 in supersession of earlier notifications
The Reserve Bank of India has vide Notification No. FEMA 20(R)/ 2017-RB dated November 7, 2017 issued Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017 (“Regulations”) in supersession of Notification No. FEMA 20/2000-RB and Notification No. FEMA 24/2000-RB both dated May 3, 2000.
The Regulations shall come into effect from the date of their publication in the Official Gazette except proviso (ii) to sub-regulation 1 of regulation 10 of these Regulations and proviso (ii) to sub-regulation 2 of regulation 10 of these Regulations which will come into effect from a date to be notified.