Borrowing and Lending in Rupees

Notification No.FEMA 31 /2000-RB. dated 27^th November, 2000

In exercise of the powers conferred by clause (e) of Sub-section (3) of Section 6 and 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 4/2000-RB dated 3^rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, namely :-

2) In the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, in Regulation 7, in proviso (d), the words ‘Non-Resident Ordinary (NRO)/’ shall be deleted.

(D.P. SARDA)
Executive Director