Foreign Exchange Management (Foreign Currency Account by a Person Resident in India)(Amendment) Regulations, 2003 - 087/2003 - Foreign Exchange Management

Foreign Exchange Management (Foreign Currency Account by a Person Resident in India )(Amendment) Regulations, 2003 Reserve Bank of India (Exchange Control Department) Central Office Mumbai 400 001 Notification No.FEMA.87 / 2003-RB dated March 20, 2003 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 14.05.2003 - G.S.R. No. 398(E) In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 and in partial modification of its Notification No.FEMA 10/2000-RB dated 3 rd May 2000 the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) Regulations 2000 namely: 1. Short title and commencement These Regulations may be called the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) (Amendment) Regulations, 2003. They shall come into force from the date of their publication in the Official Gazette. 2. Amendment of the Regulation In the Foreign Exchange Management (Foreign Currency Account by a Person Resident in India) Regulations 2000, in Regulation 7, in clause (5), for the words 'Foreign Currency Account with a bank outside India', the words, 'Foreign Currency Account with a bank outside or in India' shall be substituted. Sd/- ( K.J. Udeshi ) Executive Director Related AP (Dir) Circular A.P.(DIR Series) Circular No.20