Foreign Exchange Management (Deposit) (Amendment) Regulations, 2014 - 327/RB-2014 - Foreign Exchange Management

Reserve Bank of India Foreign Exchange Department Central Office, Mumbai-400 001 Notification No. FEMA. 327/RB-2014 November 24, 2014 Foreign Exchange Management (Deposit) (Amendment) Regulations, 2014 G.S.R. 879 (E) - In exercise of the powers conferred by clause (f) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Deposit) Regulations, 2000 ( Notification No. FEMA.5/2000-RB dated 3rd May 2000 ), hereinafter called 'Principal Regulations' namely:- 1. Short Title Commencement (i) These Regulations may be called the Foreign Exchange Management (Deposit) (Amendment) Regulations, 2014. (ii) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment of Regulation In the Foreign Exchange Management (Deposit) Regulations, 2000 ( Notification No. FEMA 5/2000-RB dated May 3, 2000 ), In Regulation 4, sub-regulation 5 shall be substituted by the following namely: (5) Deposits held in accounts maintained with an authorised dealer by any multilateral organization and its subsidiary/affiliate bodies and officials in India of such multilateral organisations, of which India is a member nation. (C D Srinivasan) Chief General Manager