{"id":295832,"date":"2023-07-03T11:30:31","date_gmt":"2023-07-03T06:00:31","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=295832"},"modified":"2023-07-03T10:58:28","modified_gmt":"2023-07-03T05:28:28","slug":"mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/","title":{"rendered":"MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III"},"content":{"rendered":"
\n

On 30-6-2023, the Ministry of Finance further amended the Foreign Exchange Management (Current Account Transactions) Rules, 2000<\/a>. It will be deemed to have been came into effect on 16-5-2023.<\/p>\n

Rule 7<\/b> has been re-inserted relating to Use of International Credit Card while outside India.<\/b><\/p>\n

Earlier<\/b>, Rule 7 was omitted vide Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023<\/a>.<\/p>\n

Now<\/b>, it says that the Provisions of Rule 5 will apply to the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India.<\/p>\n

It means that for withdrawing any foreign exchange for a transaction included in Schedule III, prior approval of Reserve Bank of India will be required.<\/b><\/p>\n

Explanatory Memorandum-<\/b> The retrospective effect to the present notification will not affect anyone adversely.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On 30-6-2023, the Ministry of Finance further amended the Foreign Exchange Management (Current Account Transactions) Rules, 2000. It will be deemed to <\/p>\n","protected":false},"author":67515,"featured_media":293603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[57693,33491,57694,2824,58098,2732,30308],"class_list":["post-295832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-current-account-transactions","tag-fema","tag-international-credit-card","tag-Ministry_of_Finance","tag-mof","tag-Reserve_Bank_of_India","tag-rules"],"yoast_head":"\nMoF re-inserts norms on International Credit Card Transactions | SCC Blog<\/title>\n<meta name=\"description\" content=\"Ministry of Finance tightens the norms on Overseas International Credit Card Transactions covered under Schedule III by mandating prior approval of RBI.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III\" \/>\n<meta property=\"og:description\" content=\"Ministry of Finance tightens the norms on Overseas International Credit Card Transactions covered under Schedule III by mandating prior approval of RBI.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-03T06:00:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"867\" \/>\n\t<meta property=\"og:image:height\" content=\"580\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kriti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kriti\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/\",\"name\":\"MoF re-inserts norms on International Credit Card Transactions | SCC Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp\",\"datePublished\":\"2023-07-03T06:00:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\"},\"description\":\"Ministry of Finance tightens the norms on Overseas International Credit Card Transactions covered under Schedule III by mandating prior approval of RBI.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp\",\"width\":867,\"height\":580,\"caption\":\"ministry of finance\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\",\"name\":\"Kriti\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"caption\":\"Kriti\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"MoF re-inserts norms on International Credit Card Transactions | SCC Blog","description":"Ministry of Finance tightens the norms on Overseas International Credit Card Transactions covered under Schedule III by mandating prior approval of RBI.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/","og_locale":"en_US","og_type":"article","og_title":"MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III","og_description":"Ministry of Finance tightens the norms on Overseas International Credit Card Transactions covered under Schedule III by mandating prior approval of RBI.","og_url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2023-07-03T06:00:31+00:00","og_image":[{"width":867,"height":580,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.jpg","type":"image\/jpeg"}],"author":"Kriti","twitter_card":"summary_large_image","twitter_title":"MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III","twitter_misc":{"Written by":"Kriti"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/","url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/","name":"MoF re-inserts norms on International Credit Card Transactions | SCC Blog","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp","datePublished":"2023-07-03T06:00:31+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd"},"description":"Ministry of Finance tightens the norms on Overseas International Credit Card Transactions covered under Schedule III by mandating prior approval of RBI.","breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp","width":867,"height":580,"caption":"ministry of finance"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/03\/mof-reinserts-rule-relating-to-use-of-international-credit-card-oustide-india-legal-news\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"MoF mandates prior approval of RBI to Use International Credit Card overseas for making transactions covered under Schedule III"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd","name":"Kriti","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","caption":"Kriti"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":292496,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/18\/use-of-international-credit-card-will-be-governed-by-schedule-iii-of-foreign-exchange-management-current-account-transactions-rules-2000-legal-news\/","url_meta":{"origin":295832,"position":0},"title":"MoF tightens rules on International Credit Card transactions vide FEMA (Current Account Transactions) (Amendment) Rules, 2023","author":"Kriti","date":"May 18, 2023","format":false,"excerpt":"On 16-5-2023, the Ministry of Finance notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023 to amend the Foreign Exchange Management (Current Account Transactions) Rules, 2000. The provisions came into force on 16-5-2023. Rule 7 relating to Use of International Credit Card while outside India has been omitted.\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Ministry of Finance\u00a0","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-510.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-510.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-510.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-510.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":300978,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/09\/07\/mof-notifies-pmla-maintenanceofrecords-second-amendment-rules-legal-news\/","url_meta":{"origin":295832,"position":1},"title":"Principal Officer to also be a Management Level Officer vide PMLA (Maintenance of Records) Rules 2005","author":"Kriti","date":"September 7, 2023","format":false,"excerpt":"On 4-9-2023, the Ministry of Finance notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2023 to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Key Points: Rule 2 clause (f) describes the meaning of a \u201cPrincipal Officer\u201d. The amendment specifies that apart from being an\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"ministry of finance","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":312209,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/01\/25\/ministry-of-finance-notified-foreign-exchange-management-non-debt-instruments-amendment-rules-2024-legal-news\/","url_meta":{"origin":295832,"position":2},"title":"MoF introduces International Exchange vide FEM (Non-debt Instruments) Amendment Rules, 2024","author":"Kriti","date":"January 25, 2024","format":false,"excerpt":"The definition of International Exchange introduced vide Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2024.","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"ministry of finance","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-finance.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":298169,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/31\/legislation-roundup-july-2023-legal-update\/","url_meta":{"origin":295832,"position":3},"title":"Legislation July Roundup 2023: 15+ Stories on Changes in GST Rates on Casino, Online Gaming etc; Introduction of IFSC Banking Company and Unit; SEBI Circulars; and more","author":"Kriti","date":"July 31, 2023","format":false,"excerpt":"LOK SABHA Lok Sabha passes Repealing and Amending Bill 2022 to repeal 76 obsolete laws The Repealing and Amending Bill, 2022 was introduced in the Lok Sabha by the then Union Law Minister, Kiren Rijiju on 19-12-2022 with a view to repealing 65 obsolete Laws. Now, the present Law Minister,\u2026","rel":"","context":"In "Legal RoundUp"","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"legislation roundup july 2023","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/legislation-roundup-july-2023.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/legislation-roundup-july-2023.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/legislation-roundup-july-2023.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/legislation-roundup-july-2023.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":293575,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/01\/legislation-roundup-may-2023-legal-update\/","url_meta":{"origin":295832,"position":4},"title":"LEGISLATION ROUNDUP- MAY: 16+ Stories on SPG for PM\u2019s Security; Type III Buses protection from fire; LG control on \u2018Services\u2019","author":"Kriti","date":"June 1, 2023","format":false,"excerpt":"MINISTRY OF CORPORATE AFFAIRS MCA tightens norms for closure of firms vide Companies (Removal of Names of Companies from the Register of Companies) Second Amendment Rules, 2023 On 10-5-2023, the Ministry of Corporate Affairs notified the Companies (Removal of Names of Companies from the Register of Companies) Second Amendment Rules,\u2026","rel":"","context":"In "Legal RoundUp"","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"legislation roundup may 2023","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/legislation-roundup-may-2023.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/legislation-roundup-may-2023.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/legislation-roundup-may-2023.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/legislation-roundup-may-2023.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":310402,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/12\/30\/rbi-notified-foreign-exchange-management-manner-of-receipt-and-payment-regulations-2023-legal-news\/","url_meta":{"origin":295832,"position":5},"title":"RBI notifies FEM (Manner of Receipt and Payment) Regulations, 2023 mandating permission from RBI for Trade outside India","author":"Kriti","date":"December 30, 2023","format":false,"excerpt":"On 21-12-2023, the Reserve Bank of India (\u2018RBI\u2019) notified the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 mandating permission of RBI to make or receive payments from a person residing outside India. The provisions came into force on 21-12-2023. Key Points: These Regulations will be governed by\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"rbi","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/295832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67515"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=295832"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/295832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/293603"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=295832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=295832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=295832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}