Currency definition expanded to include debit and ATM cards, treating instruments that create financial liability as currency. Definition of currency expanded to include debit cards, ATM cards and any other instrument that can create a financial liability, thereby bringing such card-based and analogous payment instruments within the regulatory definition of currency under clause (h) of Section 2 of the Foreign Exchange Management Act; the notification supersedes the earlier notification and takes effect from publication in the Official Gazette.
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Currency definition expanded to include debit and ATM cards, treating instruments that create financial liability as currency.
Definition of currency expanded to include debit cards, ATM cards and any other instrument that can create a financial liability, thereby bringing such card-based and analogous payment instruments within the regulatory definition of currency under clause (h) of Section 2 of the Foreign Exchange Management Act; the notification supersedes the earlier notification and takes effect from publication in the Official Gazette.
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