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of <h1>RBI Amends Forex Regulations: Increases Payment Limit to 5 Lakh Under Regulation 4, Clause (iv) Effective March 2014.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000, effective from March 13, 2014. This amendment, under the Foreign Exchange Management Act, 1999, modifies Regulation 4, clause (iv), increasing the limit from two lakh rupees to five lakh rupees or any other amount as stipulated by the Reserve Bank. The amendment is certified to have no adverse effects due to its retrospective application. Previous amendments to the principal regulations were made in 2003, 2005, and 2013.
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