DEFINITION OF CURRENCY – SUPERSESSION OF NOTIFICATION NO.FEMA 15/2000-RB, DATED 3-5-2000
NOTIFICATION NO.FEMA 15(R)/2015-RB [F.NO.1/31/EM-2015]/GSR 1008(E), DATED 29-12-2015
In pursuance of clause (h) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 15/ 2000-RB dated May 3, 2000, as amended from time to time, the Reserve Bank notifies debit cards, ATM cards or any other instrument by whatever name called that can be used to create a financial liability, as ‘currency’.
They shall come into force from the date of their publication in the Official Gazette.