Mode of payment expansion permits RBI-directed additional payment modes for authorised dealers under FEMA regulations. The amendment inserts into Regulation 5 of the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 a provision authorising 'any other mode of payment' in accordance with directions issued by the Reserve Bank of India to authorised dealers, thereby permitting the RBI to prescribe additional payment methods for foreign exchange receipts and payments.
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Provisions expressly mentioned in the judgment/order text.
Mode of payment expansion permits RBI-directed additional payment modes for authorised dealers under FEMA regulations.
The amendment inserts into Regulation 5 of the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000 a provision authorising "any other mode of payment" in accordance with directions issued by the Reserve Bank of India to authorised dealers, thereby permitting the RBI to prescribe additional payment methods for foreign exchange receipts and payments.
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