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of <h1>Banking companies can acquire SWIFT Belgium shares under Regulation 6D with Reserve Bank permission for membership</h1> Banking companies licensed by the Reserve Bank under the Banking Regulation Act, 1949 may acquire shares of Society for Worldwide Interbank Financial Telecommunication (SWIFT), Belgium according to SWIFT's by-laws. This permission is conditional upon the banking company being permitted by the Reserve Bank for membership in the SWIFT User's Group in India. The provision was inserted through FEMA Amendment Regulations 2004 under Regulation 6D, effective March 19, 2013, governing foreign exchange management for transfer or issue of foreign securities.
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