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of <h1>RBI Amends Regulations: Prohibits Indian Residents from Capital Transactions with North Korea Without Government Approval.</h1> The Reserve Bank of India issued the Foreign Exchange Management (Permissible Capital Account Transactions) (First Amendment) Regulations, 2019, effective from its publication date. The amendment prohibits Indian residents from engaging in capital account transactions with individuals or entities from North Korea, unless specifically approved by the Central Government. Existing investments or assets in North Korea must be closed or settled within 180 days unless an extension is granted by the government. This amendment aligns with the Security Council Resolution on North Korea, as implemented by the Indian government through Order S.O. 1549(E) dated April 21, 2017.
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