Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016
Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016
Payment for import of goods may be made by international card or specified rupee methods under regulatory compliance. Regulation 6 permits residents to pay for imports via an international card or in rupees through the card servicing bank, subject to compliance with the ... Summary
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Payment for import of goods may be made by international card or specified rupee methods under regulatory compliance.
Regulation 6 permits residents to pay for imports via an international card or in rupees through the card servicing bank, subject to compliance with the Act and Foreign Trade Policy; it also authorises rupee payments for visitor boarding and travel, purchase of imported gold or silver by cheque/draft, company payments to non whole time foreign directors under corporate authorisations, and credits or rupee transfers to a SNRR account of a nonresident seller for imports, contingent on conformity with FEMA and related regulations.
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