Home Acts & Rules FEMA Regulation FOREIGN EXCHANGE MANAGEMENT (MANNER OF RECEIPT AND PAYMENT) REGULATIONS, 2000 This
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Regulation 2 - Definitions - FOREIGN EXCHANGE MANAGEMENT (MANNER OF RECEIPT AND PAYMENT) REGULATIONS, 2000Extract 2. Definitions :- In these Regulations, unless the context requires otherwise, - (i) 'Act' means the Foreign Exchange Management Act, 1999 (42 of 1999) ; (ii) 'authorised dealer' means a person authorised as an authorised dealer under subsection (1) of Section 10 of the Act ; (iii) 'authorised bank' means a bank, other than an authorised dealer, authorised by the Reserve Bank to accept deposits from persons resident outside India ; (iv) 'FCNR/NRE account' means an FCNR or NRE account opened and maintained in accordance with the Foreign Exchange Management (Deposits) Regulations, 2000 ; (v) 'Permitted currency' means a foreign currency which is freely convertible; (vi) the words and expressions used but not defined in these Regulations shall have the same meanings respectively assigned to them in the Act.
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