Foreign Exchange Management (Guarantees) (Second Amendment) Regulations, 2009. - ఆర్బిఐ - Reserve Bank of India
Foreign Exchange Management (Guarantees) (Second Amendment) Regulations, 2009.
RESERVE BANK OF INDIA Dated February 27, 2009 Foreign Exchange Management (Guarantees) In exercise of the powers conferred by clause (j) of sub-section 3 of section 6 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Guarantees) Regulations, 2000, (Notification No. FEMA 8/RB-2000 dated May 3, 2000), namely:- 1. Short Title and Commencement: 2. Amendment of Regulation - In the Foreign Exchange Management (Guarantees) Regulations, 2000 (Notification No. FEMA 8/RB-2000 dated May 3, 2000), in Regulation 4 after sub-regulation (1A) the following new sub-regulation shall be inserted namely :- "(1B) - An authorised dealer in India may give guarantee or standby Letter of Credit in respect of an obligation incurred by a person resident in India and owed to a person resident outside India in connection with payment of margin money in respect of approved commodity hedging transaction of such person residing in India subject to such terms and conditions as may be stipulated by the Reserve Bank from time to time."
(Salim Gangadharan)
Chief General Manager - in – Charge Footnote:- GSR.No 575(E) dt.19.8.2002
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