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of <h1>RBI Amends Foreign Exchange Rules: Authorized Dealers Can Lend Foreign Currency Against FCNR (B) Account Funds</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000. This amendment, effective upon its publication, adds a provision allowing authorized dealers to grant foreign currency loans in India against the security of funds held in FCNR (B) accounts, but only to the account holder and in accordance with RBI guidelines. This modification is part of ongoing adjustments to the principal regulations initially published in 2000 and amended multiple times thereafter.
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