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          <h1>Indian companies can now issue foreign currency exchangeable bonds under new 2008 scheme for accessing international capital markets.</h1> The Central Government established the Issue of Foreign Currency Exchangeable Bonds Scheme, 2008 under FEMA to facilitate Indian companies in issuing foreign currency exchangeable bonds. The scheme, notified by the Ministry of Finance's Department of Economic Affairs on February 15, 2008, came into immediate effect upon publication in the Official Gazette, providing a regulatory framework for companies to access foreign capital markets through exchangeable bond instruments.

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