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    India Foreign Exchange Info


    Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2001


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    Amendment of Schedule 3 -


    3. In Schedule 3 to the Principal Regulations, -

    • i. in the Heading, for the words "NRI/OCB", the word "NRI" shall be substituted;

    1. in paragraph 1,

    •  for the words "NRI/OCB", "NRI or OCB", and "NRIs or OCBs" wherever they occur, the words "NRI", "NRI" and "NRIs" respectively shall be substituted;

      1. the words "or an Overseas Corporate Body (OCB)" shall be omitted;
      2. in sub-paragraph (i), for the words "his/its", the word "his" shall be substituted;
      3. sub-paragraph (vii) shall be omitted;

    • iii. for paragraph 2, the following paragraph shall be substituted,namely :-

    "The link office of the designated branch of an authorised dealer referred to in paragraph 1 shall furnish to the Chief General Manager, RBI, ECD, Central Office, Mumbai, a report on daily basis on PIS transactions undertaken by it, such report to be furnished on line or on floppy or in hard copy in a format supplied by Reserve Bank".