Purchase of Immovable Property in India by Persons of Indian Origin (PIOs) - Amendment of the definition

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..... he definition Attention of Authorised Dealer Category-I banks is invited to clause (c) of Regulation 2 of Notification No. FEMA 21/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India), Regulations, 2000 , as amended from time to time, in terms of which 'a Person of Indian Origin' means an individual (not being a citizen of Pak .....

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..... or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955). A copy of the Notification is annexed. 3. Authorised Dealer Category-I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 4. The Directions contained in this circular have been issued und .....

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