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RBI on long-term visa for Muslims
Why is it in the news ?
- Reserve Bank of India (RBI) circular issued back in March 2018 that allowed the now beneficiaries of the citizenship (Amendment) Act to buy immovable property.
More in the news
- The RBI notification issued under the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018.
- It said, “A person being a citizen of Afghanistan, Bangladesh or Pakistan, belonging to minority communities in those countries who is residing in India and has been granted a Long Term Visa (LTV) by the Central government may purchase only one residential immovable property in India as dwelling unit for self-occupation and only one immovable property for carrying out self-employment.”
- The CAA talks about granting citizenship to persecuted minorities, the same minorities that the RBI guidelines talked about, and from the same countries — Afghanistan, Bangladesh and Pakistan.
- Central banking sources said when the circular was issued by the RBI, the NRC or CAB (Citizenship Amendment Bill) were “nowhere on the horizon.”
Source
The Hindu.