Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2020

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....ll come into force on the date of their publication in the Official Gazette. 2. In the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 (hereinafter referred to as the principal rules), after rule 2, the following rule shall be inserted, namely:- "2(A). Reserve Bank to administer these rules. - (1)These rules shall be administered by the Reserve Bank. (2)While administrating these rules, the Reserve Bank may interpret and issue such directions, circulars, instructions, clarifications, as it may deem necessary, for effective implementation of the provisions of these rules." 3. In the principal rules, in rule 3, the words "and in consultation with the Central Government" shall be omitted. 4. In the principal rules, in r....

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....Scheduled Passenger Airlines, Non-Scheduled Air Transport Services, helicopter and seaplane services. (b) Foreign airlines are allowed to participate in the equity of companies operating Cargo airlines, helicopter and seaplane services, as per the limits and entry routes mentioned above. (c) Foreign airlines are allowed to invest in the capital of Indian companies, operating scheduled and non-scheduled air transport services, up to the limit of 49 per cent of their paid-up capital, subject to the following conditions, namely :- (i) it is made under the Government approval route, (ii) the 49 per cent limit will subsume FDI and FII/FPI investment, (iii) the investments so made would need to comply with the relevant regulations of the ....