Bombay HC: Wife Humiliating Husband in Front of His Friends is Amounts to Cruelty  ||  Delhi HC Interprets Doctrine of “Compelled Self-Publication”,  ||  Del. HC Issues Summons to Campus Sutra in Trademark Infringement Suit Filed by Footwear Brand Campus  ||  Bombay HC Dismisses PIL Seeking Restraining Order against PRADA  ||  Delhi HC: Cannot Bypass Bar on Revision of Interlocutory Order by Invoking Inherent Jurisdiction  ||  Delhi HC: Prosecutrix’s Refusal to Undergo Medical Examination Weakens the Case  ||  Bom. HC: No Provision under JJ Act that Allows Adoption of a Child of Foreign Citizenship  ||  SC Passes Order to Prevent Russian Mother’s Attempt to Flee with Child  ||  SC: Deprivation of Natural Heir from Will May Not Raise Suspicion  ||  SC: Denying Female Heir Right in Property Only Exacerbates Gender Division    

Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2019- (Reserve Bank of India) (27 Feb 2019)

MANU/RFEM/0004/2019

Banking

In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 [Notification No. FEMA 10(R)/2015-RB dated January 21, 2016], namely:-

1. Short Title and Commencement.-

(i) These regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2019.

(ii) They shall come into force from the date of their publication in the Official Gazette.

2. Amendment to Regulation 4.-

In Regulation 4, the existing sub-regulation (G)(2), shall be substituted as follows:-

"(2) An authorized dealer in India may, subject to the directions as may be issued by the Reserve Bank, allow ship-manning / crew managing agencies in India and re-insurance and composite insurance brokers registered with IRDA to open and maintain non-interest bearing foreign currency accounts in India for the purpose of undertaking transactions in the ordinary course of their business."

Tags : FOREIGN CURRENCY   AMENDMENT   REGULATIONS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved