In a significant move which will make it a lot easier for local companies to raise money overseas the Govt has eased KYC requirements under the Prevention of Money Laundering Act for overseas investors willing to invest in the depository receipts of Indian Companies. Foreign investors now do not need to complete any separate KYC (Know Your Client) process as per Indian rules, and can buy depository receipts of Indian companies based on the proof of identity they have established with authorities in their country of origin.

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