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RBI amends mode of payment norms under FEMA regulation

June 22, 2020
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The RBI has notified the Foreign Exchange Management (Mode of Payment and Reporting of Non- Debt Instruments) (Amendment) Regulations, 2020 whereby amendment has been made to the Regulation 3.1 of the Principal Regulations. The amount of consideration shall be paid as inward remittance from abroad through banking channels or out of funds held in a foreign currency account and/or a Special Non-Resident Rupee (SNRR) account.
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