Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India)(Second Amendment) Regulations, 2002 - আৰবিআই - Reserve Bank of India
Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India)(Second Amendment) Regulations, 2002
RESERVE BANK OF INDIA Notification No.FEMA58/2002-RB dated April 01, 2002 Foreign Exchange Management (Foreign Currency Accounts by a In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No. FEMA 10/2000-RB dated 3rd May 2000, Reserve Bank of India makes the following amendments to Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, namely : 1. Short title and commencement
2. Amendment to the Regulations In the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, in the Schedule, (i) for paragraph (1), the following paragraph shall be substituted, namely : ' (1) An entity or a person specified in column 1 of the Table below may credit to the EEFC Account an amount up to the limit specified in column 2 thereof from out of the foreign exchange earnings specified in sub-paragraph (1A), namely: Table
Provided that the Reserve Bank may, on an application made to it and on being satisfied that it is necessary to do so, grant permission to hold higher percentage of inward remittance/payments in foreign exchange in the EEFC account.'
'(1A) Following foreign exchange earnings are specified for the purpose of sub-paragraph (1), namely:' (iii) in sub-paragraph (1A) so inserted, the proviso below clause (v), shall be deleted. (K.J.Udeshi )
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