RESERVE BANK OF INDIA
A.P. (DIR Series) Circular No. 137
June 28, 2012
To
All Category – I Authorised Dealer banks
Madam/Sir,
Foreign Investment in India -Sector Specific conditions
Attention of Authorised Dealer Category – I (AD Category-I) banks is invited to
Annex A and B of Schedule 1 to Foreign Exchange Management (Transfer or Issue of
Security by a Person Resident outside India) Regulations, 2000 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 FDI
is prohibited as also the entry norms, sectoral cap and other conditions for
sectors/activities in which FDI is permitted under Government route and
Automatic route are specified.
- 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 FDI Policy Circular 1
of 2012 dated April 10, 2012 and the same is available at Government website
www.dipp.gov.in. In order to bring uniformity in the sectoral classification
position for FDI as notified under the Consolidated FDI Policy Circular with the
FEMA Regulation, the revised position on
Annex A and Annex B of Schedule 1 to
Notification No. FEMA 20/2000-RB dated 3rd May 2000, has been suitably revised
and is enclosed.
- Necessary amendments to the Foreign Exchange Management (Transfer or Issue of
Security by a Person Resident Outside India) Regulations, 2000 notified vide
Notification No.FEMA 20/2000-RB dated May 3, 2000 will be issued separately.
- AD Category – 1 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,
(Rudra Narayan Kar)
Chief General Manager
RBI/2011-12/626