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Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015

FEMA - 47 - Dated:- 4-2-2016 - RBI/2015-16/312 A.P. (DIR Series) Circular No.47/2015-16 [(1)/11(R)] February 04, 2016 To All Category - I Authorised Dealers and Authorised Banks Madam/ Sir Attention of Authorised Dealers (ADs) is invited to notified .....

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hereto. 2. Synopsis of the new regulations is given as under: A. Following are the limits for possession or retention of foreign currency or foreign coins, namely :- possession without limit of foreign currency and coins by an authorised person withi .....

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t in aggregate, provided that such foreign exchange in the form of currency notes, bank notes and travellers cheques; was acquired by him while on a visit to any place outside India by way of payment for services not arising from any business in or a .....

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or gift while on a visit to any place outside India; or represents unspent amount of foreign exchange acquired by him from an authorised person for travel abroad. B. A person resident in India but not permanently resident therein may possess without .....

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ns made under the Act. Explanation: for the purpose of this clause, 'not permanently resident' means a person resident in India for employment of a specified duration (irrespective of length thereof) or for a specific job or assignment, the d .....

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