Regulatory amendment to foreign exchange borrowing and lending removes EEFC account reference, clarifying permitted transaction instruments. The Reserve Bank, exercising powers under the Foreign Exchange Management Act, amends Regulation 4(1)(iv) of the Borrowing or Lending in Foreign Exchange Regulations, 2000 by deleting the words 'EEFC Account or', effecting an immediate, targeted modification to the list of referenced instruments or accounts in that clause.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Regulatory amendment to foreign exchange borrowing and lending removes EEFC account reference, clarifying permitted transaction instruments.
The Reserve Bank, exercising powers under the Foreign Exchange Management Act, amends Regulation 4(1)(iv) of the Borrowing or Lending in Foreign Exchange Regulations, 2000 by deleting the words 'EEFC Account or', effecting an immediate, targeted modification to the list of referenced instruments or accounts in that clause.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.