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of <h1>RBI Amends Foreign Exchange Regulations; FIIs Can Now Short Sell, Lend, and Borrow Securities from Dec 31, 2007.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Transfer or Issue of Security by A Person Resident Outside India) Regulations, 2000. Effective from December 31, 2007, this amendment allows registered Foreign Institutional Investors (FIIs) to engage in short selling, as well as the lending and borrowing of securities, under conditions set by the Reserve Bank of India and the Securities and Exchange Board of India. The amendment is stated to have no adverse effects due to its retrospective application.
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