FEM (MANNER OF RECEIPT AND PAYMENT) (AMENDMENT) REGULATIONS, 2015 – AMENDMENT IN REGULATION 5
NOTIFICATION [NO.FEMA.357/2015-RB]/GSR 935(E), DATED 7-12-2015
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
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. |
Amendment to the Regulations
2. 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.’