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of <h1>RBI issues Foreign Exchange Management Remittance of Assets Regulations 2000 under Section 47 of FEMA governing cross-border transfers</h1> The Reserve Bank of India issued regulations under the Foreign Exchange Management Act, 1999, governing remittance of assets outside India by both residents and non-residents. These regulations, titled Foreign Exchange Management (Remittance of Assets) Regulations, 2000, were notified on May 3, 2000, and came into effect on June 1, 2000. The regulations were established under Section 47 of FEMA to regulate cross-border asset transfers from India.
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