Foreign exchange receipt and payment rules replace prior notifications under statutory authority, defining title and commencement. The Reserve Bank of India makes the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 under the authority of Section 47 of the Foreign Exchange Management Act, 1999, superseding earlier FEMA notifications on manner of receipt and payment, cross-border receipts/payments and rupee transactions with Nepal and Bhutan; the Regulations are titled accordingly and commence upon publication in the Official Gazette.