Schedule 3 of these Regulations is of great practical utility to most of NRIs. There is no change in the earlier scheme for portfolio investment by NRIs on repatriation/non-repatriation basis except that the requirement of grant of approval by designated branch of an authorised dealer valid for a period of 5 years at a time has been dispensed with under the new Regulations as amended w.e.f. 3-10-2003. |
