Foreign Exchange Management (Manner of Receipt and Payment) (Second Amendment) Regulations, 2020

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.... Regulations, 2020 Notification No. FEMA 14(R)/(2)/2020-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 amendments 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 &#3....

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....ther party to the transaction is resident or by credit to the ACU Dollar account and / or ACU Euro Account and / or ACU Japnese Yen account of the authorized dealer maintained with the correspondent bank in that member country;" (iii) in sub-regulation 1(A) of Regulation 5, the following shall be substituted, namely: "Members of Asian Clearing Union (ACU)" (iv) in sub-Clause (a) of Clause (i) ....