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of <h1>Indian Financial Sector Faces New Overseas Investment Conditions Under Regulation 7; Includes All Activities, Not Just Financial Services.</h1> Regulated entities in India's financial sector investing overseas must comply with additional conditions outlined in Regulation 7 of Notification No.FEMA120/RB-2004. Previously, these conditions applied only to financial services investments, but now include all activities. Trading in overseas commodities exchanges is classified as a financial service, requiring approval from the Forward Markets Commission. Unregulated Indian financial entities can invest in non-financial overseas activities under Regulation 6. Amendments to the Foreign Exchange Management Regulations are forthcoming. Authorized Dealer banks must inform their clients of these updates, issued under the Foreign Exchange Management Act, 1999.
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