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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 vide Notification No. FEMA. 11(R)/2015-RB dated December 29, 2015, c.f. G.S.R. No.1006 (E) dated December 29, 2015, which supersedes the Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2000 and all amendments t .....

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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 anything done in India; or was acquired by him, from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation; or was acquired by him by way of honorarium .....

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