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of <h1>Regulation 5A allows foreign embassies and diplomats to buy or sell property in India, excluding agricultural land.</h1> The Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) (Amendment) Regulations, 2003, issued by the Reserve Bank of India, amends the 2000 regulations. Effective upon publication in the Official Gazette, the amendment introduces Regulation 5A, allowing foreign embassies, diplomats, and consulate generals to purchase or sell immovable property in India, excluding agricultural land, plantation property, or farmhouses. Such transactions require clearance from the Ministry of External Affairs and must be funded through remittances from abroad via banking channels.
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