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This happened as a consequence of the classification of capital instruments into debt and non-debt instruments.
The regulations that superseded FEMA 20-R are primarily:
1. Foreign Exchange Management (Non-debt Instruments) Rules, 2019, notified by the Central Government. These rules superseded the FEMA (Transfer of Issue of Security by a Person Resident outside India) Regulations, 2017, and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018.
2. Foreign Exchange Management (Debt Instruments) Regulations, 2019, issued by the Reserve Bank of India (RBI).
3. Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019, issued by the RBI.
Therefore, the FEMA regulations concerning the transfer or issue of security by a person resident outside India are now governed by the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 for non-debt instruments and the Foreign Exchange Management (Debt Instruments) Regulations, 2019 for debt instruments.
You can find these current regulations on the official website of the Reserve Bank of India (RBI) and the Enforcement Directorate.
(ii) Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019, as amended.
Thanks!!