MUMBAI METRO LINE 3
13.3 FOREIGN EXCHANGE CLEARANCES On March 27, the Japan International Cooperation Agency (JICA) signed loan agreements with the Government of India in Delhi to provide Japanese ODA loans of up to a total of 374.44 billion yen for the following nine projects Japan and JICA’s Urban Transportation Sector/India Cooperation Policy and the Positioning of the Project In Country Assistance Policy for India (March 2016), where connection enhancement through the development of transportation infrastructure, etc. was set as an assistance priority field, with the removal of bottlenecks in the infrastructure to the investment and growth in mind 19 The foreign exchange regulations in India are governed by the Foreign Exchange Management Act, 1999 (“FEMA”). The apex foreign exchange regulatory authority in India is the Reserve Bank of India (“RBI”) which regulates the law and is responsible for all key approvals. (PK Joy, Total project management pg -30) FOREIGN CONTRIBUTION (REGULATION) ACT, 2010 FCRA, 2010 has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and for matters connected therewith or incidental thereto * In terms of FCRA, 2010 "person" includes20 ‒
An individual; A Hindu undivided family; An association; A company registered under section 25 of the Companies Act, 1956 (now Section 8 of Companies Act, 2013) which is MMRC (Mumbai metro rail corporation) REASON :DUE TO COLLABARATION WITH MAPLE ( CONSORTIUM OF AECOM, PADECO, LOUIS BERGER AND EGIS RAIL) WHICH ARE INTERNATION FIRMS SO THERE IS FOREIGN COLLABORATION IN TERMS OF TECHNICAL COLLABORATION AND INVERSTMENT FROM JICA
LAW:Foreign Contribution (regulation) Act, 2010FCRA, 2010 has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies
RESPONSIBILITY : MMRC APPROVAL AUTHORITY :RBI Reserve bank of India 13.4 APPROVAL OF FOREIGN GOODS IMPORTING TWO NEW TUNNEL BORING MACHINE FROM CHINA.(UGC_02) Policy :Capital goods policy of india (CG) 1992-1997(TOTAL PROJECT MANAGEMENT PK JOY)
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https://www.jica.go.jp/english/our_work/evaluation/oda_loan/economic_cooperation/c8h0vm000001rdjtatt/india_200327_06.pdf 20
https://fcraonline.nic.in/home/index.aspx#
SUBMITTED BY: BHUMIKA RAJ UC5316
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