Section 21(2)(iii) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004
(iii)[ may issue Foreign Currency Exchangeable Bonds to a person resident outside India in accordance with and subject to the conditions specified in Schedule IV with the specific approval of the Reserve Bank.] [ Inserted by G.S.R. 301(E), dated 1.5.2009 (w.r.e.f. 23.9.2008).]