Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2003

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....CATION No.FEMA. 80 /2003-RB January 8, 2003 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 09.07.2003 - G.S.R.No.531(E) In exercise of the powers conferred by clause (d) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in partial modification of ....

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....mployees of their branches outside India for personal purposes provided that the loan shall be granted 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,' (K. J. Udeshi) Executive Director Foot-note : The Principal Regulations were published in the Official Gazette vide G.S....