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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New 2015 Regulations Mandate Indian Residents to Repatriate Foreign Exchange Promptly, Replacing 2000 Rules.</h1> The Foreign Exchange Management (Realisation, Repatriation, and Surrender of Foreign Exchange) Regulations, 2015, effective from December 29, 2015, replace the 2000 regulations. These regulations mandate that Indian residents must take reasonable steps to realize and repatriate foreign exchange due to them, ensuring timely receipt and preventing loss of receivability. Repatriation involves selling foreign exchange to authorized dealers, holding it in accounts, or using it for debt repayment. Specific surrender periods are outlined for various scenarios, with exemptions for currency from Nepal and Bhutan. Authorized banks are instructed to inform relevant parties of these regulations.
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