NTF. NO. FEMA 274/2013-RB, DT. 26/04/2013

Foreign Exchange Management (Manner of Receipt and Payment) (Second Amendment) Regulations, 2013

In exercise of the powers conferred by Clause (i) of sub section 6 and sub section (2) of 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 & Payment) Regulations, 2000 (hereinafter referred to as ‘the Principal Regulations’) namely :-

1. Short title and commencement:-

1. These Regulations may be called the Foreign Exchange Management (Manner of Receipt and Payment) (Second Amendment) Regulations, 2013

2. They shall come into force from the date of publication in the Official Gazette.

2. Amendment of the Regulations:

In Regulation 3, after sub regulation (2), the following shall be inserted namely,

"(3) Any other mode of receipt of export proceeds for an export from India in accordance with the directions issued by the Reserve Bank of India to authorised dealers from time to time."

(Smt. Rashmi Fauzdar)
Chief General Manager

Foot note :

The Principal Regulations were published in the Official Gazette vide G.S.R. No. 397 (E) dated May 5, 2000 in Part II, Section 3, Sub-Section (i) and subsequently amended vide:-

1. G.S.R. No. 772 (E) dated September 29, 2003;
2. G.S.R. No. 53 (E) dated February 2, 2005; and
3. G.S.R. No.______ dated _________