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of <h1>Amendment to Section 6 of the Foreign Exchange Management Act redefines capital transactions and sets new foreign exchange rules.</h1> Section 6 of the Foreign Exchange Management Act, 1999, was amended by the Finance Act, 2015. The amendment redefines permissible capital account transactions involving debt instruments and introduces conditions for such transactions. It prohibits the Reserve Bank or Central Government from restricting foreign exchange for loan amortization or investment depreciation in business. A new sub-section allows the Central Government, in consultation with the Reserve Bank, to prescribe permissible non-debt capital account transactions, set foreign exchange limits, and impose conditions. The definition of 'debt instruments' is to be determined by the Central Government with the Reserve Bank's consultation. Sub-section (3) is omitted.
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