Companies can issue debt to non-resident shareholders as bonus: RBI
Adds it is not applicable for non-convertible preference shares
 "Companies can issue debt to non-resident shareholders as bonus: RBI")
The Reserve Bank of India on Monday allowed Indian companies to issue non-convertible, redeemable bonus preference shares and debentures to non-residents from its reserves.
The RBI added that the permission was not applicable for non-convertible preference shares.