RBI norms for Residents and Non-Residents of India
The Reserve Bank of India (RBI) has planned to reduce the number of financial shares from resident and non-residents in India. This new set of financial norms is said to be released at the earliest and this will include investments made on housing and other such things. This plan will be approved by RBI only in the order to encourage non-residents to invest on land or other such properties.
Now non-residents can transfer their property shares as per their convenience without giving prior notice to RBI India. This norm aims at providing better facility for the oversea property investors in India. Once approved by the government of India these norms are sure to contend the non-residents of India. RBI aims to bring in user-friendly real estate transactions for the denizens of India and also for the non-residents.
Source: City Journal
Financial norms, Government of India, Housing sectors, Land, Non-residents of India, Property investors, RBI, Real Estate India, Reserve Bank of India (RBI), Residents of India
