Suspension or relaxation of foreign exchange controls may occur in public interest, subject to parliamentary review and modification.

Foreign Exchange Management Act, 1999 permits suspension or relaxation, by notification, of all or specified provisions where necessary for permissions or restrictions to cease or where required in the public interest. The measure may be indefinite or time-bound, and an indefinite measure may later be removed. Notifications are subject to parliamentary laying and may be modified or annulled by both Houses, without affecting the validity of prior action taken under them.

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