| Date: |
08-12-2014
|
| Notification No: |
RBI/2014-15/339 A.P.(DIR Series) Circular No.45
|
| Issuing Authority: |
RBI
|
| Type: |
A.P.D.(Series) Circulars
|
| File No: |
RBI/2014-15/339 |
| Subject: |
Foreign Direct Investment (FDI) in India – Review of FDI policy –Sector Specific conditions
|
|
RBI/2014-15/339
A.P.(DIR Series) Circular No. 45
December 8, 2014
To
All Category – I Authorised Dealer banks
Madam/Sir,
Foreign Direct Investment (FDI) in India – Review of FDI policy –Sector
Specific conditions
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to
Annex B of Schedule 1 to the Foreign Exchange Management (Transfer or Issue of
Security by a Person Resident outside India) Regulations, 2000(the Principal
Regulations) notified by the Reserve Bank vide Notification No. FEMA. 20/2000-RB
dated 3rd May 2000, as amended from time to time whereby description of
sectors/activities wherein the entry norms, sectoral cap and other conditions
for sectors/activities in which FDI is permitted under Government route and
Automatic route are specified. Attention of Authorised Dealer Category – I (AD
Category-I) banks is also invited to Annex to A.P. (DIR Series) Circular No. 44
dated September 13, 2013.
- The Department of Industrial Policy and Promotion (DIPP), Ministry
of Commerce & Industry, Government of India has been updating/notifying the
FDI policy through issue of Consolidated FDI Policy Circular. Accordingly,
Government has notified the latest FDI policy changes vide Consolidated FDI
Policy Circular of 2014 dated April 17, 2014 and the same is available at
Government website www.dipp.gov.in. In order to bring uniformity in the
sectoral classification/conditionalities for FDI/foreign investment as
notified under the Consolidated FDI Policy Circular with the FEMA
Regulations, the position on Annex B of Schedule 1 to
Notification No. FEMA.
20/2000-RB dated 3rd May 2000, as amended from time to time, has been
suitably revised by amending the notification.
- Reserve Bank has since amended the Principal Regulations through
the Foreign Exchange Management (Transfer or Issue of Security by a Person
Resident outside India) (Tenth Amendment) Regulations, 2014 notified vide
Notification No. FEMA. 312/2014-RB dated July 2, 2014, c.f. G.S.R. No.
798(E) dated November 13, 2014.
- Authorised Dealer banks may bring the contents of this circular to
the notice of their constituents and customers concerned.
- The directions contained in this circular have been issued under
sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of
1999) and are without prejudice to permissions / approvals, if any, required
under any other law.
Yours faithfully,
(B.P. Kanungo)
Principal Chief General Manager
|
|
|