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of <h1>RBI Amends Regulation 19A: Indian Firms Can Establish Overseas Ventures with Prior Approval; Schedule II Deleted</h1> The Reserve Bank of India issued the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Fourth Amendment) Regulations, 2014, effective upon publication in the Official Gazette. The amendment modifies Regulation 19A, allowing proprietorship concerns or unregistered partnership firms in India to establish or acquire a Joint Venture or Wholly Owned Subsidiary abroad, subject to prior approval from the Reserve Bank. Additionally, Schedule II is deleted from the regulations.
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