The Reserve Bank of India (RBI) on February 10, 2025, notified Foreign Exchange Management (Manner of Receipt and Payment) (Amendment) Regulations, 2025 to amend the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023.
The following has been stated: -
•In regulation 3, in sub-regulation (2), in clause (I), in sub-clause (a), for the item (ii) along with its proviso, the following shall be substituted, namely: -
(ii) Member countries of ACU, other than Nepal and Bhutan – In respect of payments from a resident in the territory of one participant country to a resident in the territory of another participant country, through ACU mechanism, or as per the directions issued by the Reserve Bank to authorized dealers from time to time. For all other transactions, receipt and payment may be made in a manner as specified in (iii) below.
They shall come into force with effect from February 11, 2025.
The detailed notification is given in the document below.
[Notification No. FEMA 14(R)(1)/2025-RB]
