The Reserve Bank of India (RBI) on July 24, 2024, issued the notification regarding the Master Direction on Overseas Investment.
The following has been stated namely: -
• Instructions issued on Overseas Investment by persons resident in India have been compiled in this Master Direction.
• The provisions contained in the OI Rules/Regulations/Directions shall not apply, and general permission shall be available for acquisition or transfer of any investment outside India
• The applications for overseas investment/financial commitment in Pakistan/other jurisdiction as may be advised by the Central Government from time to time or in strategic sectors/specific geographies shall be forwarded by the AD banks from their constituents to the Reserve Bank as per the laid down procedure for onward submission to the Central Government.
[Notification No. RBI/FED/2024-25/121]
