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of <h1>Foreign Exchange Management Act 1999 defines possession and retention of foreign currency in physical form</h1> These regulations define key terms for foreign exchange management regarding possession and retention of foreign currency. The Act refers to the Foreign Exchange Management Act, 1999. Possession and retention specifically mean holding foreign currency in physical form. Any undefined terms in these regulations carry the same meaning as assigned in the parent Act. The regulations establish definitional framework for interpreting foreign currency possession and retention requirements under Indian foreign exchange law.
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