Change of nomenclature: Exchange Control Department recharacterised as Foreign Exchange Department, aligning regulatory references accordingly. The notification directs that all references to the term Exchange Control Department and its abbreviation in Reserve Bank regulations shall be read as Foreign Exchange Department and the corresponding abbreviation, exercising powers under the Foreign Exchange Management Act to effect a nomenclature substitution so that regulatory texts consistently reflect the new departmental designation.
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Change of nomenclature: Exchange Control Department recharacterised as Foreign Exchange Department, aligning regulatory references accordingly.
The notification directs that all references to the term Exchange Control Department and its abbreviation in Reserve Bank regulations shall be read as Foreign Exchange Department and the corresponding abbreviation, exercising powers under the Foreign Exchange Management Act to effect a nomenclature substitution so that regulatory texts consistently reflect the new departmental designation.
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