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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Indian Corporates Can Use Forex Earnings for Educational Initiatives Abroad; Subject to RBI Approval Under FEMA 1999.</h1> Indian corporates with a proven track record are permitted to use their foreign exchange earnings to fund initiatives like establishing chairs in educational institutions outside India. The Reserve Bank of India will evaluate these requests individually. Applications should be submitted by authorized dealers to the Chief General Manager at the Reserve Bank of India, including details of foreign exchange earnings over the past three years, a company background, specifics of the proposed chair, and potential benefits to the corporate. This directive is issued under the Foreign Exchange Management Act, 1999.
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