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of <h1>RBI Amends Foreign Exchange Management Regulations: No RBI Nod Needed for Insurance Liaison Offices with IRDA Approval.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management Regulations, 2000, concerning the establishment of branches, offices, or other places of business in India by foreign residents. Effective April 25, 2005, the amendment specifies that insurance companies do not require RBI approval to establish a Liaison Office in India if they have already obtained approval from the Insurance Regulatory and Development Authority. This change is part of the ongoing modifications to the regulations initially published in May 2000 and subsequently amended in 2003 and 2005.
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