Foreign exchange surrender requires sale to an authorised person in India for rupees, while undefined terms follow the governing Act. Definitions governing realisation, repatriation and surrender of foreign exchange identify the Foreign Exchange Management Act, 1999 as the governing Act; ... Summary
Foreign exchange surrender requires sale to an authorised person in India for rupees, while undefined terms follow the governing Act.
Definitions governing realisation, repatriation and surrender of foreign exchange identify the Foreign Exchange Management Act, 1999 as the governing Act; define an authorised dealer, foreign exchange due, and surrender; and preserve the meanings assigned under the Act for terms not separately defined.
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