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of <h1>RBI Amends Foreign Exchange Regulations: Up to 49% FDI in Defense Sector Allowed, Higher with Security Approval</h1> The Reserve Bank of India issued the Foreign Exchange Management (Thirteenth Amendment) Regulations, 2014, effective from August 26, 2014. Key amendments include changes to Regulation 14, removing 'and Defence sectors' from sub-regulation (3), clause (iv), para (D). Schedule 1 was revised to allow up to 49% foreign direct investment (FDI) in the defense sector via the government route, with potential for higher investment subject to Cabinet Committee on Security approval for advanced technology access. The amendment outlines conditions for FDI, including management control by Indian citizens and specific licensing and security requirements.
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