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of <h1>RBI Expands Currency Definition to Include Debit and ATM Cards Under FEMA 1999 Notification</h1> The Reserve Bank of India, under the Foreign Exchange Management Act, 1999, has issued a notification defining 'currency' to include debit cards, ATM cards, or any other instruments that can create a financial liability. This notification, originally dated May 3, 2000, was published in the Official Gazette on May 8, 2000, and was later superseded by a notification in December 2015. The definition aims to encompass various modern financial instruments within the regulatory framework of currency management.
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