Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2003

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..... I 400 001 NOTIFICATION No.FEMA. 80 /2003-RB January 8, 2003 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 09.07.2003 - G.S.R.No.531(E) In exercise of the powers conferred by clause (d) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), .....

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..... may grant loans in foreign currency to the employees of their branches outside India for personal purposes provided that the loan shall be granted for personal purposes in accordance with the lender's Staff Welfare Scheme/Loan Rules and other terms and conditions as applicable to its staff resident in India and abroad,' (K. J. Udeshi) Executive Director Foot-note : The Principal Regulati .....

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