Use of International Credit Card while outside India - Amendment in Foreign Exchange Management (Current Account Transactions) Rules, 2000 - G.S.R. 472 (E) - Foreign Exchange Management
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Use of International Credit Card exempted from domestic current account restrictions, permitting payments while visiting abroad. A new rule inserted into the Foreign Exchange Management (Current Account Transactions) Rules, 2000 provides that rule 5 shall not apply to the use of an International Credit Card for making payments by a person while on a visit outside India; the insertion is effective retrospectively from 16 May 2023 and the explanatory memorandum states that no person will be adversely affected by the retrospective effect.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Use of International Credit Card exempted from domestic current account restrictions, permitting payments while visiting abroad.
A new rule inserted into the Foreign Exchange Management (Current Account Transactions) Rules, 2000 provides that rule 5 shall not apply to the use of an International Credit Card for making payments by a person while on a visit outside India; the insertion is effective retrospectively from 16 May 2023 and the explanatory memorandum states that no person will be adversely affected by the retrospective effect.
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