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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>RBI Amends Foreign Exchange Regulations: Foreign Companies Can Open Project Offices in India with New Conditions</h1> The Foreign Exchange Management (Establishment in India of Branch or Office or Other Place of Business) (Amendment) Regulations, 2003, issued by the Reserve Bank of India, amends the 2000 regulations. Key changes include the deletion of references to 'Project Office' in Regulation 3, and the substitution of sub-regulation (ii) in Regulation 5, allowing foreign companies to open Project Offices in India under specific conditions, such as securing a contract from an Indian company and project funding criteria. The amendment also requires foreign companies to report details to the RBI's regional office and restricts Project Offices to activities related to the project execution.