Foreign Exchange Management (Manner of Receipt and Payment) (Amendment) Regulations, 2019

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dment) Regulations, 2019 No. FEMA 14(R)/(1)/2019-RB.-In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 (Notification No. FEMA 14(R)/2016-RB dated May 02, 2016) (hereinafter referred to as 'the Pr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ia (overseas buyer) with an Authorised Dealer or an Authorised Bank in India, as specified in Foreign Exchange Management (Deposits) Regulations, 2016;" (ii) after sub-regulation (2), the following new sub-regulation shall be inserted, namely: "(3) Payment may also be received in rupees by a person resident in India from SNRR Account of person resident outside India after ensuring that the und....