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of <h1>RBI Amends Foreign Exchange Regulations: Updates to Schedule 5 for Repatriation Basis Transactions Effective July 2014</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eleventh Amendment) Regulations, 2014, effective from July 2, 2014. This amendment modifies the Foreign Exchange Management Regulations, 2000, particularly Schedule 5, by updating the language regarding the purchase and sale of securities on a repatriation basis. These changes ensure that transactions comply with terms specified by the Securities and Exchange Board of India (SEBI) and the Reserve Bank. The amendment clarifies that no adverse effects will result from its retrospective application.
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