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<h1>RBI Amends Foreign Exchange Regulations to Allow New Payment Modes Under Section 47 of FEMA 1999.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000. This amendment, effective upon publication in the official Gazette, modifies Regulation 5 by adding a new sub-regulation. The addition allows for any other mode of payment as per directions issued by the Reserve Bank of India to authorized dealers. This amendment is enacted under the authority of Section 47 of the Foreign Exchange Management Act, 1999, partially modifying the previous notification from May 3, 2000.