Fc-gpr

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2015 Dear Experts,

If a NRI subscriber purchase shares of Indian Company but make payment of it through Cheque of local Indian Bank, will FC-GPR required to be filed with RBI?

Dhara

Dhara (Expert)
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27 February 2015 I don't think so as FC-GPR is required when the foreign currency is received in India.

Dhara

Dhara (Expert)
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27 February 2015 I don't think so as FC-GPR is required when the foreign currency is received in India.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2015 But FC-GPR is required to be filed for allotment of shares to NR/NRI?

In the above case, the NRI has made payment from his NRE account of Axis Bank.