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of <h1>RBI Amends FDI Rules: Prohibits Investment in Lottery, Gambling; Allows 100% Automatic Entry in Railway Projects</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourteenth Amendment) Regulations, 2014, effective from August 27, 2014. The amendment updates Schedule 1 of the 2000 regulations, detailing sectors where Foreign Direct Investment (FDI) is prohibited, such as lottery, gambling, chit funds, and real estate. It also clarifies infrastructure and common facilities in industrial parks. Additionally, it introduces a 100% automatic entry route for FDI in specified railway infrastructure projects, subject to Ministry of Railways guidelines, with security-sensitive proposals requiring Cabinet Committee on Security approval.
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