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The Reserve Bank of India amends the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 to change the definition of real estate business. The term real estate business excludes the development of townships, the construction of residential or commercial premises, roads, or bridges, and Real Estate Investment Trusts that are registered and regulated under the SEBI (REITs) Regulations 2014. These regulations come into force on the date of publication in the Official Gazette.
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Relative A.P. (DIR) circular: 63/21.04.2016
RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI-400 001 Notification No. FEMA. 345/2015-RB November 16, 2015 Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015 In exercise of the powers conferred by sub-section (2) of Section 6, sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes, in consultation with the Central Government, the following amendments in the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 ( Notification No. FEMA.1/2000-RB dated 3rd May 2000 ), namely:-
(B. P. Kanungo) Principal Chief General Manager
Foot Note: The Principal Regulations were published in the Official Gazette vide No. G.S.R. No.384 (E) dated May 5, 2000 in Part II, Section 3, sub-section (i) and subsequently amended vide: G.S.R.207 (E) dated March 23, 2004 G.S.R.14 (E) dated January 5, 2008 G.S.R.551 (E) dated August 14, 2013 G.S.R. 488 (E) dated July 11, 2014 G.S.R. 283 (E) dated April 13, 2015 G.S.R. 425 (E) dated May 26, 2015 Published in the Official Gazette of Government of India – Extraordinary – Part-II, Section 3, Sub-Section (i) dated 16.11.2015- G.S.R.No.859(E)
