IFSCA on 9th April, 2024 has issued the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2024. The amendment provides that funds raised through External Commercial Borrowings (ECB) or through American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) or through direct listing of equity shares of companies incorporated in India on International Exchanges, pending their utilization or repatriation to India, be held in foreign currency accounts with a bank outside India.
Review meeting on the implementation of new criminal laws
31 January 2025
Government review meeting on the implementation of new criminal laws has mandated that a review should be conducted to ensure the utilization of the provision
