Foreign Exchange Management (Deposit) (Second Amendment) Regulations, 2012 - Amendment in Schedule-1 and Schedule-3

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..... )- 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 makes the following amendments in the Foreign Exchange Management (Deposit) Regulations, 2000 ( Notification No. FEMA 5/ 2000-RB, dated May 3, 2000 ), namely: Short title and commencem .....

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..... ty or origin. Opening of these accounts by a non-resident jointly with a resident is also permissible. Opening of these accounts by non-resident may be permitted jointly with the resident close relative(s) on 'former or survivor' basis. However, the said resident close relative shall be eligible to operate the account as a Power of Attorney holder in accordance with the extant instructions during .....

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..... ions, 2000. (iv) Amount in rupees received subject to compliance with the Regulation 8B of the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000 ( Notification No. FEMA 4/2000-RB dated 3rd May, 2000 ), as amended from time to time" [No. 235/2012-RB] RUDRA NARAYAN KAR, Chief General Manager ____________ Notes;- 1. It is clarified that no pe .....

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