Section 4(1) in The Foreign Contribution (Regulation) Rules, 2011
(1)The following activities shall be treated as speculative activities:-(a)any activity or investment that was an element of risk of appreciation or depreciation of the original investment, linked to market forces, including investment in mutual funds or in shares;(b)participation in any scheme that promises high returns like investment in chits or land or similar assets not directly linked to the declared aims and objectives of the organisation or association.
