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Manner of payment in foreign exchange

Regulation 5 - Regulation - Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 - Regulation 5 - 5. : - (1) A payment in foreign exchange by an Authorised Dealer, whether by way of remittance from India or by way of reimburs .....

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of Maldives - (a) Payment for import of eligible goods and services by credit to Asian Clearing Dollar account and / or Asian Clearing Union Euro account in India of a bank of the member country in which the other party to the transaction is resident .....

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y in all other cases. (c) In respect of imports to India from Myanmar, payment may be made in any freely convertible currency or through ACU mechanism from Myanmar. (ii) Nepal and Bhutan - Payment may be in Rupees (iii) Islamic Republic of Iran (a) P .....

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/ or in accordance with the directions issued by the Reserve Bank to the authorized dealers from time to time in all other cases. (B) All countries other than those mentioned in A above- (i) Payment in rupees from the account of a bank situated in a .....

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