RBI amendments in the Foreign Exchange Management (Deposit) Regulations, 2000

Dated 24th November, 2014 | Copy  of | Notification no. FEMA.327/2014-RB | (Published in the Gazette of India on 9th December, 2014) | In exercise of the powers conferred by clause (f) of sub-section (3) of Section 6 and subsection (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 (Deposits) 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.”

Sd/-                 (C.D. Srinivasan)     Chief General Manager

G.S.R.879(E) Issued by: Reserve Bank of India (Foreign Exchange Department) (Central Office) Mumbai Foot Note: The Principal Regulations were published in the Official Gazette of GOI vide G.S.R. No. 388(E), dated May 5, 2000 - in Part II, Section 3, Sub-section (i) and subsequently amended vide:- G.S.R. No. 262 (E) dated April 9, 2002,     G.S.R. No. 577 (E) dated August 19, 2002, G.S.R. No. 855 (E) dated December 31, 2002,     G.S.R. No. 494 (E) dated August 4, 2004, G.S.R. No. 221 (E) dated April 7, 2005, G.S.R. No. 663(E) dated November 14, 2005, G.S.R. No. 28 (E) dated January 19, 2006, G.S.R. No. 495 (E) dated July 23, 2007, G.S.R. No. 664 (E) dated October 16, 2007, G.S.R. No. 714(E) dated November 14, 2007, G.S.R. No. 91 (E) dated February 15, 2008, G.S.R. No. 442(E) dated June 23, 2009, G.S.R. No. 798(E) dated October 30, 2012, G.S.R. No. 822(E) dated November 10, 2012, G.S.R. No. 893(E) dated December 17, 2012, G.S.R. No. 26(E) dated January 17, 2013, G.S.R. No. 531(E) dated August 5, 2013.