Borrowing and Lending in Rupees

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Published on November 27, 2000

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Borrowing and Lending in Rupees

Borrowing and Lending in Rupees

RESERVE BANK OF INDIA
EXCHANGE CONTROL DEPARTMENT
CENTRAL OFFICE
MUMBAI 400 001

Notification No.FEMA 31 /2000-RB. dated 27^th November, 2000

In exercise of the powers conferred by clause (e) 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 its Notification No.FEMA 4/2000-RB dated 3^rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, namely :-

1) (i) These Regulations may be called the Foreign Exchange Management (Borrowing and Lending in Rupees) (Amendment) Regulations, 2000,

(ii) These shall come into force with immediate effect.

2) In the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000, in Regulation 7, in proviso (d), the words ‘Non-Resident Ordinary (NRO)/’ shall be deleted.

(D.P. SARDA)
Executive Director

Published in the Official Gazette of Government
of India - Extraordinary - Part-II, Section 3,
Sub-Section (i) dated 12.02.2001 - G.S.R.No.90(E)