The move could open a new source for foreign inflows into the country, as NRIs are currently not big investors because of regulatory curbs.
NRIs usually take the mutual fund route. However, this does not allow them to make company-specific investments.
Although Indian capital market activity is regulated by Sebi, NRI investments coming into the country are administered by the RBI through Foreign Exchange Management Act (Fema). Some of the existing provisions in the Act place NRIs at a disadvantaged position both compared to domestic investors and foreign portfolio investors.
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