Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

FEMA, Possession And Retention Of Foreign Currency, Regulations 2000..


Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2000

Notification No.FEMA 11/2000-RB dated 3rd May 2000 - In exercise of the powers conferred by clause (a) and clause (e) of Section 9, clause (d) and clause (g) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following regulations, namely :-

  1. Short title & commencement :-
    1. These regulations may be called as Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2000.
    2. They shall come into force on 1st day of June, 2000.
  2. Definitions :-
    In these Regulations, unless the context requires otherwise –
    1. 'Act' means Foreign Exchange Management Act, 1999 (42 of 1999).
    2. 'To possess' or 'to retain' means to possess or to retain in physical form and the words 'possession' or 'retention' shall be construed accordingly.
    3. The words and expressions used but not defined in these regulations shall have the same meaning respectively assigned to them in the Act.
  3. Limits for possession and retention of foreign currency or foreign coins :-
    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 :-
    1.  possession without limit of foreign currency and coins by an authorised person within the scope of his authority ;
    2. possession without limit of foreign coins by any person;
    3. retention by a person resident in India of foreign currency notes, bank notes and foreign currency travellers' cheques not exceeding US$ 2000 or its equivalent in aggregate, provided that such foreign exchange in the form of currency notes, bank notes and travellers cheques;
      1. 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
      2. 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
      3. was acquired by him by way of honorarium or gift while on a visit to any place outside India;
        or
      4. represents unspent amount of foreign exchange acquired by him from an authorised person for travel abroad.
  4. Possession of foreign exchange by a person resident In India but not permanently resident therein :-

    Without prejudice to clause (iv) of Regulation 3, a person resident in India but not permanently resident therein may possess without limit foreign currency in the form of currency notes, bank notes and travellers cheques, if such foreign currency was acquired, held or owned by him when he was resident outside India and, has been brought into India in accordance with the regulations 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 duration of which does not exceed three years.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 20-04-2021
Notification No. 27/2021–Customs
Seeks to exempt customs duty on import of Remdesivir injection, Remdesivir API and Beta Cyclodextrin (SBEBCD) used in the manufacture of Remdesivir, up to 31st October, 2021.

Date: 20-04-2021
Notification No. 23/2021-Customs (ADD)
Seeks to amend notification No. 50/2018-Customs (ADD) dated 5th October, 2018 imposing anti-dumping duty on imports of nylon filament yarn originated in or exported from Vietnam and European Union , to exclude goods of certain specification from the scope of the anti-dumping duty.

Date: 15-04-2021
Notification No.43/2021 - Customs (N.T.)
Exchange rates Notification No.43/2021-Cus (NT) dated 15.04.2021

Date: 15-04-2021
Notification No. 42/2021-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 15-04-2021
Notification No. 44/2021-Customs (N.T.)
Seeks to amend Sea Cargo Manifest and Transhipment Regulations 2018

Date: 15-04-2021
Notification No. 22/2021-Customs (ADD)
Seeks to amend notification No. 14/2016-Customs (ADD), dated 21-04-2016, so as to extend the applicability of the said notification up to and inclusive of 20th October, 2021.

Date: 13-04-2021
Public Notice No. 01/2015-2020
Allocation of additional quantity of 3675.13 MT (raw/refined) sugar to UK under TRQ scheme for the year 2020-21

Date: 12-04-2021
Notification No. 21/2021-Customs (ADD)
Seeks to impose anti-dumping duty on imports of Normal Butanol or N-Butyl alcohol originating in or exported from European Union, Malaysia, Singapore, South Africa and United States of America for a further period of 5 years.

Date: 11-04-2021
Notification No. 01/2015-2020
Amendment in Export Policy of Injection Remdesivir and Remdesivir API.

Date: 09-04-2021
Public Notice No. 53/2015-2020-DGFT
Late cut for MEIS applications for exports made in the Financial Year 2019-20



Exim Guru Copyright © 1999-2021 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001