India's central bank has eased rules regarding share transfers between Indians and non-resident investors, in a move to liberalise and rationalise policies governing foreign direct investments (FDI) in the country, it said in a statement. Reserve Bank of India has now allowed transfer of shares between resident and non-resident investors under the foreign direct investment route without its prior permission with certain exceptions, it said.
In 2010/11 (April-March), FDI inflows into India had declined an annual 25 percent to $19.42 billion, while the inflows during the April-June quarter more than doubled to $13.44 billion compared to year-ago quarter.