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of <h1>Foreign Currency and Rupee Transactions: Navigating Cross-Border Payments Under Reserve Bank of India Guidelines</h1> Statutory provisions regulate the manner of receipt and payment between residents in India and outside India. Transactions with Nepal and Bhutan primarily use Indian Rupees, with specific exceptions. Payments for trade and non-trade transactions can be made in Indian Rupees or foreign currencies, depending on the countries involved. The Reserve Bank may permit specific payment arrangements. All transactions must typically be conducted through authorized banks or persons, with provisions for different scenarios across various countries.
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