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of <h1>RBI Amends Foreign Exchange Regulations: SEZ Units Can Open Foreign Currency Accounts for Trade, With Lending Restrictions</h1> The Reserve Bank of India issued amendments to the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000. Effective upon publication, the amendments allow units in Special Economic Zones (SEZ) to open and maintain foreign currency accounts with authorized dealers in India. All foreign exchange funds received by SEZ units must be credited to these accounts, and they can be used for legitimate trade transactions. However, funds cannot be lent to non-SEZ residents in India. The amendment also removes an existing paragraph in the regulations' schedule, maintaining the principal regulations' effectiveness.
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