RESERVE BANK OF
INDIA
FOREIGN EXCHANGE DEPARTMENT
CENTRAL OFFICE
MUMBAI - 400 001
RBI/2004/43
A.P. (DIR Series) Circular No. 65
February
5, 2004
To
All Authorised Dealers in Foreign
Exchange
Madam/Sirs,
Foreign Exchange
Management Act, 1999 –
Amendments to Foreign
Exchange Management Regulations
Attention of authorised
dealers is invited to A.P.(DIR Series) circulars relating to :
- Risk Management and Indian Bank
Dealings
- Forward cover for Foreign Institutional
Investors
- Foreign Currency Loan in India
to holders of FCNR (B) Deposits
- Overseas Direct Investment –
Liberalisation of Automatic Route
- Acquisition of immovable property
outside India – Branches/Trading Offices overseas
- Forward Contracts – Enlargement
of scope of transactions
The relevant amendments
to the Foreign Exchange Management Regulations, 2000 issued by Reserve Bank
have been notified by the Government, in the Official Gazette, as indicated
in the Annexure. (Copies of the Notifications are enclosed).
2. Authorised
dealers may bring the contents of this circular to the notice of their constituents
concerned.
3. The directions
contained in this circular have been issued under section 10(4) and section
11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).
Yours faithfully,
(Grace Koshie)
Chief General Manager
Annexure
[A.P.(DIR Series) Circular
No.65
dated February 5, 2004]
Reserve
Bank Notifications – Amendment to Foreign Exchange Management
Regulations,
2000 issued under the Foreign Exchange Management Act, 1999
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Sr. No.
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A.P. DIR (Series)
Circular
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FEMA Notification
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No. and date
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Subject
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No./date/subject
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G.S.R. No.
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1.
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2.
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3.
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4.
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5.
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1.
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63/21.12.2002
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Risk Management
and Inter-Bank Dealings
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Notification
No.FEMA.70/2003-RB
dated 26.8.2002 - Foreign Exchange Management (Foreign Exchange Derivative
Contract) (Third Amendment) Regulations, 2002.
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222 (E) dated
26.8.2002
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2.
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50/16.11.2002
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Forward cover
for Foreign Institutional Investors
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Notification
No.FEMA.81/
2003-RB dated 8.1.2003 - Foreign Exchange Management (Foreign Exchange
Derivative Contract) (Amendment) Regulations, 2003.
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532(E) dated
8.1.2003
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3.
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24/25.9.2002
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Foreign Currency
Loan in India to holders of FCNR (B) Deposits
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Notification
No.FEMA.82/
2003-RB dated 10.1.2003 - Foreign Exchange Management (Borrowing or
Lending in Foreign Exchange) (Second Amendment) Regulations, 2003.
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533(E) dated
10.1.2003
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4.
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83/1.3.2003
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Overseas Direct
Investment – Liberalisation of Automatic Route
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Notification
No.FEMA.86/
2003-RB dated 1.3.2003 – Foreign Exchange Management (Transfer or
issue of any Foreign Security) (Amendment) Regulations, 2003.
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629 (E) dated
1.3.2003
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5.
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71/13.1.2003
104/31.5.2003
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Acquisition
of immovable property outside India – Branches/Trading Offices overseas
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Notification
No.FEMA.103/
2003-RB dated 13.10.2003 - Foreign Exchange Management (Acquisition
and Transfer of immovable property outside India) (Amendment) Regulations,
2003.
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848(E) dated
13.10.2003
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6.
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98/29.4.2003
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Booking Forward
Contracts
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Notification
No.FEMA..104/
2003-RB dated 21.10.2003 - Foreign Exchange Management (Foreign Exchange
Derivative Contract) (Third Amendment) Regulations, 2003.
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880(E) dated
21.10.2003
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