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of <h1>RBI Amends Foreign Exchange Regulations: Real Estate Business Excludes Township Development, Construction, and SEBI-Registered REITs.</h1> The Reserve Bank of India, in consultation with the Central Government, issued the Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015, on November 16, 2015. This amendment modifies the Foreign Exchange Management Regulations of 2000, specifically altering Regulation 4, sub-regulation (b). The revised explanation clarifies that 'real estate business' does not include activities such as township development, construction of residential or commercial premises, roads, bridges, or Real Estate Investment Trusts (REITs) that are registered and regulated under the SEBI (REITs) Regulations 2014.
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