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

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..... Regulations, 2015 Attention of Authorised Dealers (ADs) is invited to Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015 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) Regula .....

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..... n 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 or gift while on a visit to any place outside India; or represents unspent amount of foreign exchange acquired by him from an autho .....

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..... S.R. No.1006 (E) dated December 29, 2015 and shall come into force with effect from December 29, 2015. 4. AD Category- I banks may bring the contents of the circular to the notice of their constituents concerned. 5. The directions contained in this circular have been issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudic .....

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