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of <h1>RBI Amends Foreign Exchange Regulations: Increases Overseas Investment Limits and Updates Rules for Joint Ventures and Subsidiaries.</h1> The Reserve Bank of India amended the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004, effective from various dates in 2006 and 2007. Key changes include increasing the financial commitment limits for Indian parties in joint ventures or wholly owned subsidiaries abroad to 300% of net worth for corporates and 200% for registered partnership firms. The amendments also redefine guarantees and introduce new clauses related to venture capital funds and share swaps. Regulation 8 was omitted, and new provisions were added for overseas investments by proprietorship concerns. Additional amendments address conditions for employee stock option plans and venture capital funds.
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