Notification No.FEMA 92/2003-RB dated June 7,2003

Foreign Exchange Management(Foreign Currency Account by a Person Resident in India) (Fourth Amendment)Regulations, 2003

In exercise of powers conferred by clause(b) of Section 9 and clause(e) of sub-section 2 of Section 47 of the Foreign Exchange Management Act,1999(42 of 1999) and in partial modification of its Notification No.FEMA 10/2000-RB dated May 3, 2000, Reserve Bank of India makes the following amendments to Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 namely:

1. Short title and commencement :-

i. These Regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Fourth Amendment) Regulations, 2003.

ii. They shall come into force from the date of their publication in the Official Gazette.

2. Amendment of the Regulations

In the Foreign Exchange Management(Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, in the Schedule; in paragraph 1, in sub-paragraph (1) in the table, in item 2, for the figure '70', the figure '100' shall be substituted.

Sd/-

(K.J.Udeshi)

Executive Director

G.S.R.11(E) dated January 7, 2004