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of <h1>India Updates FDI Policy Under FEMA; Aligns Sector-Specific Conditions with 2014 Consolidated Circular, Instructs Banks to Inform Clients.</h1> The circular addresses updates to India's Foreign Direct Investment (FDI) policy, specifically sector-specific conditions under the Foreign Exchange Management Act (FEMA). It references amendments to the Principal Regulations, aligning them with the Consolidated FDI Policy Circular of 2014 issued by the Department of Industrial Policy and Promotion. The Reserve Bank of India has revised Annex B of Schedule 1 to Notification No. FEMA. 20/2000-RB to ensure consistency with these policies. Authorized Dealer banks are instructed to inform their clients of these changes, which are issued under sections 10(4) and 11(1) of FEMA, 1999.
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