NTF. NO. FEMA 193/2009-RB, DT. 02/06/2009

Foreign Exchange Management (Deposit) (Amendment) Regulations, 2009

In exercise of the powers conferred by clause (f) of sub section (3) of 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 (Deposit) Regulations, 2000 (Notification No.FEMA.5/2000-RB dated May 3, 2000) namely : -

1.Short title and commencement :-

(i) These regulations may be called the Foreign Exchange Management (Deposit) (Amendment) Regulations, 2009.

(ii) They shall come into force from the date of their publication in the Official Gazette.

2. Amendment of the Regulations: -

In the Foreign Exchange Management (Deposit) Regulations, 2000 (Notification No.FEMA.5/2000-RB dated May 3, 2000), in Regulation 4, in sub-regulation (3), for clause (a), the following shall be substituted, namely:-

“(a) credits to the account shall be only by way of:-

(i) proceeds of inward remittances received from outside India through normal banking channels; and

(ii) transfer of funds, from the rupee account of the diplomatic mission in India, which are collected in India as visa fees and credited to such account.”

(Salim Gangadharan)
Chief General Manager-in-Charge

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Foot Note :

The Principal Regulations were published in the Official Gazette vide G.S.R.No.388 (E) dated May 5, 2000 in Part II, Section 3, Sub-Section (i) and subsequently amended vide :-

G.S.R.No.262(E) dated April 9, 2002
G.S.R.No.577(E) dated August 19, 2002
G.S.R.No.855(E) dated December 31, 2002
G.S.R.No.494(E) dated August 4, 2004
G.S.R.No.221(E) dated April 7, 2005
G.S.R.No.663(E) dated November 14, 2005
G.S.R.No.28(E) dated January 19, 2006
G.S.R.No.495(E) dated July 23, 2007
G.S.R.No.664(E) dated October 16, 2007
G.S.R.No.714(E) dated November 14, 2007
G.S.R.No.91(E) dated February 15, 2008

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