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Limits for possession and retention of foreign currency or foreign coins

Regulation 3 - FEMA - Regulation 3 - 3. :- For the purpose of clause (a) and clause (e) of Section 9 of the Act, the Reserve Bank specifies the following limits for possession or retention of foreign currency or foreign coins, namely :- i) Possession without limit of foreign currency and coins by an authorised person within the scope of his authority; ii) Possession without limit of foreign coins by any person; iii) Retention by a person resident in India of foreign currency notes, bank notes an .....

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