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of <h1>Amendment to Regulation 3 allows Special Economic Zone units to get general insurance from foreign insurers.</h1> The Foreign Exchange Management (Insurance) (Amendment) Regulations, 2002, issued by the Reserve Bank of India, modifies the existing Foreign Exchange Management (Insurance) Regulations, 2000. Effective from its publication date, the amendment introduces a proviso to Regulation 3, allowing units located in Special Economic Zones to obtain general insurance policies from insurers outside India, thereby exempting them from the general prohibition. This amendment is a partial modification of a previous notification from May 3, 2000.
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