RBI circulars have either been issued or are under issue in respect of the following recommendations of the Sodhani Commitee:
6.32 Grant of general permission to ADs to sanction rupee loans against securities of shares held by them either on repatriation or non-repatriation basis.
6.33 General permission to ADs to remit sale proceeds of shares to overseas banks who have extended loans to the NRIs net of applicable tax without obtaining prior permission of RBI.
6.34 Permission to raise rupee loans on non-repatriation basis in India against collateral securities of their immovable property, whether purchased by remittance from abroad or acquired otherwise.
6.36 General permission to Indian companies to grant housing loans in India to their NRI staff in Staff Housing Loans Schemes of their concerned company, provided repayment is made out of remittances in foreign exchanges.
6.43 Grant of general permission to Indian companies by RBI for payment of interest on delayed refunds of share subscription subject to SEBI guidelines.
6.45 Safe custody of securities on behalf of NRIs/OCBs by Institutional Custodians besides ADs.
6.11 Rate of interest on deposits linked to domestic deposit rates of SBI.
6.23 Delegation of powers to Regional Offices of RBI for approval of proposals for NRI investment on repatriation basis under Direct Foreign Investment.
6.44 General permission for delegation of names of the deceased in case of joint holding of shares.
6.46 Issue of instructions to companies to indicate RBI approval number and date on counterfoils of dividend / interest warrants to facilitate speedy remittance.
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