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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Amends Foreign Exchange Regulations: Indian Firms Can Loan Foreign Currency to Overseas Branch Employees for Personal Use.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, effective from its publication date in the Official Gazette. This amendment allows Indian companies to grant foreign currency loans to employees of their overseas branches for personal purposes. These loans must comply with the company's Staff Welfare Scheme or Loan Rules and applicable terms for both domestic and international staff. The amendment modifies the existing regulations, which have been previously amended multiple times since their original publication in May 2000.
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