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RBI amends FEM (Export and Import of Currency) Regulation, 2015

December 5, 2020
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The Reserve Bank of India has notified the FEM (Export and Import of Currency) (Second Amendment) Regulations, 2020 wherein it has clarified that the Reserve Bank, may, in public interest and in consultation with the Central Government, restrict the amount of Indian currency notes of Government of India and/or of Reserve Bank, and/or foreign currency, on case-to-case basis, that a person may bring into or take outside India and prescribe such conditions as it may deem necessary.
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