Section 21(2)(ii) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004
(ii)may issue FCCBs beyond [US $ 750 Million] [Substituted for the words "US $ 500 Million" by Notification No. G.S.R. 608(E) dated 16.3.2012 (w.e.f. 23.9.2011)] with the specific approval of the Reserve Bank;