Notification No.FEMA. 156 /2007-RB

Dated June 13,  2007

Foreign Exchange Management (Deposit) ( Amendment) Regulations, 2007

In exercise of the powers conferred by clause (f) of Sub-section (3) of Section 6, 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 in the Foreign Exchange Management (Deposit) Regulations, 2000 (Notification No. FEMA.5/2000-RB dated 3rd May 2000) namely:-

1. Short Title & Commencement:-

(i) These Regulations may be called the Foreign Exchange Management (Deposit) (Amendment) Regulations, 2007.

(ii) They shall come into force from January 31, 2007.@

2. Amendment of the Regulations:-

(i) In the Foreign Exchange Management (Deposit) Regulations, 2000, in Schedule 1, in paragraph 6, after sub-paragraph (c), the following new sub-paragraph shall be inserted, namely:-
 “(d) The loans and facilities granted under this paragraph shall be subject to such directions as may be issued by the Reserve Bank from time to time”.

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