Capital account transaction rules revised to permit specified debt instruments with conditions and protect amortisation payments. Section 6 is amended to permit specified classes of capital account transactions involving debt instruments, allow conditions on such transactions, and bar restrictions on drawal of foreign exchange for loan amortisation and depreciation of direct investments; the Central Government, with Reserve Bank consultation, may prescribe permissible non-debt capital transactions, admissible foreign exchange limits, and conditions, and the term 'debt instruments' is to be defined by the Central Government in consultation with the Reserve Bank.
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Provisions expressly mentioned in the judgment/order text.
Capital account transaction rules revised to permit specified debt instruments with conditions and protect amortisation payments.
Section 6 is amended to permit specified classes of capital account transactions involving debt instruments, allow conditions on such transactions, and bar restrictions on drawal of foreign exchange for loan amortisation and depreciation of direct investments; the Central Government, with Reserve Bank consultation, may prescribe permissible non-debt capital transactions, admissible foreign exchange limits, and conditions, and the term "debt instruments" is to be defined by the Central Government in consultation with the Reserve Bank.
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