FOREIGN EXCHANGE MANAGEMENT

With the transition to a market-based system for determining the external value of the Indian rupee the foreign exchange market in India gained importance in the early reform period.

Notifications

(14 kb)
Date : Dec 07, 2015
Foreign Exchange Management (Manner of Receipt and Payment) (Amendment) Regulations, 2015

Reserve Bank of India
Foreign Exchange Department
Central Office
Mumbai - 400 001

Notification No.FEMA.357/2015-RB

December 07, 2015

Foreign Exchange Management (Manner of Receipt and Payment)
(Amendment) Regulations, 2015

In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No. FEMA 14/2000-RB dated 3rd May, 2000, Reserve Bank of India makes the following amendments to Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 namely;

1. Short title and commencement

  1. These Regulations may be called the Foreign Exchange Management (Manner of Receipt and Payment) (Amendment) Regulations, 2015.

  2. They shall come into force on the date of their publication in the official Gazette.

2. Amendment to the Regulations

In the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000, in the Regulation 5, after sub-regulation (2) (b) following shall be added at (c), namely:

‘Any other mode of payment in accordance with the directions issued by the Reserve Bank of India to authorised dealers from time to time.’

(A.K. Pandey)
Chief General Manager


Foot Note:-

(i) The Principal Regulations were published in the Official Gazette vide G.S.R. No.397(E) dated May 5, 2000 in Part II, Section 3, sub-Section (i) and subsequently amended as under:-

GSR No. 772(E) dated September 29, 2003
GSR No. 53(E) dated February 2, 2005
GSR No. 343(E) dated May 29, 2013
GSR No. 479(E) dated July 12, 2013
GSR No. 322(E) dated May 07, 2014
GSR No. 931(E) dated December 31, 2014

Published in the Official Gazette of Government of India – Extraordinary – Part-II, Section 3, Sub-Section (i) dated 07.12.2015- G.S.R.No.935(E)
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