{"id":98011,"date":"2017-01-07T14:16:50","date_gmt":"2017-01-07T08:46:50","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=98011"},"modified":"2017-01-07T14:16:50","modified_gmt":"2017-01-07T08:46:50","slug":"foreign-exchange-facility-for-foreign-citizens-extended-up-to-january-31-2017","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/01\/07\/foreign-exchange-facility-for-foreign-citizens-extended-up-to-january-31-2017\/","title":{"rendered":"Foreign exchange facility for foreign citizens extended up to January 31, 2017"},"content":{"rendered":"<p class=\"head\" style=\"text-align: justify;\" align=\"center\">Attention of Authorized Persons is invited to the <a class=\"links\" href=\"https:\/\/www.rbi.org.in\/Scripts\/NotificationUser.aspx?Id=10742&amp;Mode=0\" target=\"_blank\">A.P. (DIR Series) Circular No. 20 dated November 25, 2016<\/a> permitting foreign citizens to exchange foreign exchange for Indian currency notes up to a limit of Rs 5000 per week till December 15, 2016 and extended up to December 31, 2016 vide <a class=\"links\" href=\"https:\/\/www.rbi.org.in\/Scripts\/NotificationUser.aspx?Id=10781&amp;Mode=0\" target=\"_blank\">A.P. (DIR Series) Circular No. 22 dated December 16, 2016<\/a>.<\/p>\n<p style=\"text-align: justify;\">2. On a review it has been decided that the instructions contained in the <a class=\"links\" href=\"https:\/\/www.rbi.org.in\/Scripts\/NotificationUser.aspx?Id=10742&amp;Mode=0\" target=\"_blank\">A.P. (DIR Series) Circular No. 20 dated November 25, 2016<\/a> shall continue to be in force till January 31, 2017.<\/p>\n<p style=\"text-align: justify;\">3. Authorised Persons may follow the above instructions and bring the contents of this circular to the notice of their constituents.<\/p>\n<p style=\"text-align: justify;\">4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions \/ approvals, if any, required under any other law.<\/p>\n<p style=\"text-align: right;\">Reserve Bank of India<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 20 dated November 25, 2016 permitting foreign citizens to <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-98011","post","type-post","status-publish","format-standard","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreign exchange facility for foreign citizens extended up to January 31, 2017 | SCC Times<\/title>\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\/2017\/01\/07\/foreign-exchange-facility-for-foreign-citizens-extended-up-to-january-31-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign exchange facility for foreign citizens extended up to January 31, 2017\" \/>\n<meta property=\"og:description\" content=\"Attention of Authorized Persons is invited to the A.P. 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2019","format":false,"excerpt":"Sub-regulation (3) of Regulation 6 of the Foreign Exchange Management (Deposit) Regulations, 2016 , in terms of which a Company may accept deposits through issue of Commercial Paper (CP), has been reviewed vis-\u00e0-vis other Statutes\/Regulations \u2013 notably Section 45 U(b) of RBI Act, 1934 describing CP as one of the\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-1.jpg?resize=525%2C300&ssl=1 1.5x, 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