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Fc-gpr

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Querist : Anonymous

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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?
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Dhara

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Dhara (Expert)
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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Dhara

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Dhara (Expert)
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

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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.
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