MANU/RFEM/0018/2000
Department / Board :RBI-Exchange Control Department
Notification No :FEMA 3/2000
Date :
03.05.2000
Foreign Exchange Management (Borrowing or Lending in Foreign Exchange)
Regulations, 2000.
In exercise of the powers conferred by clause (d) of Sub-Section (3) of
Section 6, sub- section (2) of Section 47 of the Foreign Exchange Management
Act, 1999 (42 of 1999), the Reserve Bank makes the following regulations for
borrowing or lending in foreign exchange by a person resident in India; namely:
1. Short Title and Commencement:-
(i) These Regulations may be called the Foreign Exchange Management
(Borrowing or Lending in Foreign Exchange) Regulations, 2000.
(ii) They shall come into force on 1st day of June, 2000.
2. Definitions:-
In these regulations, unless the context otherwise requires -
a) 'Act' means the Foreign Exchange Management Act, 1999 (42 of 1999);.
b) 'authorised dealer' means a person authorised as an authorised dealer
under sub- section (1) of section 10 of the Act;
c) 'EEFC account', 'RFC account' mean the accounts referred to in the Foreign
Exchange Management (Foreign currency accounts by a person resident in India)
Regulations, 2000;
d) 'FCNR (B) account', 'NRE account' mean the accounts referred to in the
Foreign Exchange Management (Deposit) Regulations, 2000;
e) 'Indian entity' means a company or a body corporate or a firm in India;
f) 'Joint Venture abroad' means a foreign concern formed, registered or
incorporated in a foreign country in accordance with the laws and regulations of
that country and in which investment has been made by an Indian entity;
g) 'Schedule' means th........