Foreign Exchange Management (Permissible Capital Account Transactions) (Second Amendment) Regulations, 2015

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..... gn Exchange Management (Permissible Capital Account Transactions) (Second Amendment) Regulations, 2015 G.S.R. 283(E).- 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 Fo .....

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..... (ii) The Registrar of Chits or an officer authorised by the state Government in this behalf, may, in consultation with the State Government concerned, permit any chit fund to accept subscription from Non-resident Indians. Non-resident Indians shall be eligible to subscribe, through banking channel and on non- repatriation basis, to such chit funds, without limit subject to the conditions stipulat .....

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