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of <h1>RBI Amends Regulation 5: Indian Companies Can Hold Funds in Foreign Currency Accounts Abroad Until Used or Repatriated.</h1> The Reserve Bank of India has issued an amendment to the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015. This amendment, effective upon publication in the Official Gazette, modifies Regulation 5, allowing funds raised through External Commercial Borrowings, American Depository Receipts, Global Depository Receipts, or direct listing of Indian companies' equity shares on international exchanges to be held in foreign currency accounts outside India until they are utilized or repatriated.
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