The Reserve Bank of India will now regularly release the names of companies which have reached 24 per cent limit on foreign investment and companies which are on the verge of reaching this limit. To begin with, the names will be released on the Reuters screen and the Reserve Bank of India's website on the Internet (address:http://www.reservebank.com). The decision has been taken to facilitate investments by foreign institutional investors(FIIs)/non resident Indians(NR

Corporates and institutions which propose to raise foreign currency loans under the Foreign Currency - USD three million Scheme will now have to submit their applications for approval to the Reserve Bank of India. The applications will have to be made in Form ECB6, in duplicate, direct to the Chief General Manager, Exchange Control Department, IMD-II, Reserve Bank of India, Central Office, Mumbai 400001. Application forms (ECB6) are available with the regional offices

At present, residents are permitted to hold foreign currencies up to US$ 500 or personal purposes, in addition to the equivalent of US$ 500 which is permitted to be held for numismatic purposes. This limit has now been enhanced to US$2000, including US$500 for numismatic purposes. Necessary notifications to give effect these changes are being issued. Alpana Killawala Deputy General Manager Press Release : 1996-97/357