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of <h1>RBI Amends Regulation 21 to Enhance Flexibility in Issuing FCCBs and FCEBs under FEMA 1999 from December 2015.</h1> The Reserve Bank of India issued amendments to the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004, effective from December 2, 2015. These amendments, under the Foreign Exchange Management Act, 1999, introduce changes to Regulation 21. The changes allow the Reserve Bank, in consultation with the Government of India, to modify or establish provisions for the automatic and approval routes for issuing Foreign Currency Convertible Bonds (FCCBs) and Foreign Currency Exchangeable Bonds (FCEBs). The amendments aim to provide flexibility in the regulatory framework governing foreign securities.
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