Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Second Amendment) Regulations, 2013

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....nts in the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No. FEMA. 3/2000-RB dated May 3, 2000), namely:- 1. Short title and commencement: (a) These Regulations may be called the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Second Amendment) Regulations, 2013. (b) They shall be deemed to have come into force from the dates specified in these regulations. @ Amendment of the Regulations : 2. In the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No. FEMA. 3/2000-RB dated May 3, 2000) (hereinafter referred to as 'the principal regulations') (A) In Schedule II, (i) In paragraph (3), afte....

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....reinafter referred to as 'Trade Credit' - (a) for original maturity of up to five years, subject to the terms and conditions as may be stipulated by the Reserve Bank from time to time, in respect of a company resident in India engaged exclusively in the development of infrastructure; (b) for original maturity of less than three years in respect of other resident entities. Depending upon the source of finance, such trade credit includes suppliers' credit or buyers' credit. Explanation : For the purpose of this regulation, infrastructure' means infrastructure as defined under the External Commercial Borrowing (ECB) policy from time to time. (ii) For paragraph (2), the following shall be substituted and shall be deemed to have b....