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

Dated 7th December, 2015 | Copy of | Notification No. FEMA .357/2015-RB |

  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

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

ii. 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.’

Sd/-

(A.K. Pandey)

Chief General Manager

G.S.R.935(E)

Issued by:

Reserve Bank of India

(Foreign Exchange Department)

(Central Office)

Mumbai

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:-

G.S.R. No. 772(E) dated September 29, 2003

G.S.R. No. 53(E) dated February 2, 2005

G.S.R. No. 343(E) dated May 29, 2013

G.S.R. No. 479(E) dated July 12, 2013

G.S.R. No. 322(E) dated May 07, 2014

G.S.R. No. 931(E) dated December 31, 2014