FEMA 1999 - Grant of Loans by Indian Companies to the Employees of their Branches Outside India

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....lar No.74 February 20, 2004 To All Authorised Dealers in Foreign Exchange Madam/Sirs, FEMA 1999 - Grant of Loans by Indian Companies to the Employees of their Branches Outside India Attention of Authorised Dealers is invited to A. D. (M. A. Series) Circular No. 11 dated May 16, 2000. In Regulation 5 of Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulat....

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....ployees of their branches outside India for personal purposes in accordance with the lender's Staff Welfare Scheme/Loan Rules and other terms and conditions as applicable to its staff resident in India and abroad. 5. A copy of Notification No.FEMA 80/2003-RB dated January 8, 2003 which has been issued, amending the provisions of Notification No.FEMA 3/2000-RB dated May 3, 2000 is enclosed (Sub-....