Regulation 1 - Short title and commencement - Foreign Exchange Management (Deposit) Regulations, 2016

NOTIFICATION No. FEMA 5(R)/2016-RB Mumbai, the 1st April, 2016 Foreign Exchange Management (Deposit) Regulations, 2016 G.S.R. 389(E). -In exercise of the powers conferred by clause (f) of sub-section (3) of section 6, sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of Notification No. FEMA 5/2000-RB dated May 3, 2000 , as amended from time to time, the Reserve Bank makes the following regulations relating to deposits between a person resident in India and a person resident outside India, namely:- 1. Short title and commencement:- i) These regulations may be called the Foreign Exchange Management (Deposit) Regulations, 2016. ii) These regulations shall come into force from the date of their publication in the Official Gazette except sub-regulation (2) of Regulation 7. Sub-regulation (2) of Regulation 7 is deemed to have come into force with effect from 21st January, 2016.