Regulation 6 - Manner of Payment in certain cases - Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016

6. Manner of Payment in certain cases :- (1) Notwithstanding anything contained in Regulation 5, a person resident in India may make payment for import of goods. In foreign exchange through an international card held by him/ in rupees from international credit card/ debit card through the credit/ debit card servicing bank in India against the charge slip signed by the importer/ as prescribed by Reserve Bank from time to time. Provided that (a) the transaction for which the payment is so made is in conformity with the provisions of the Act, rules and regulations made thereunder; and (b) the import is also in conformity with the provision of the Foreign Trade Policy in force. (2) Any person resident in India may also make payment as under : (i) in rupees towards meeting expenses on account of boarding, lodging and services related thereto or travel to and from and within India of a person resident outside India who is on a visit to India; (ii) by means of a crossed cheque or a draft as consideration for purchase of gold or silver in any form imported by such person in accordance with the terms and conditions imposed under any order issued by the Central Government under the Foreign Trade (Development and Regulations) Act, 1992 or under any other law, rules or regulations for the time being in force; (iii) a company or resident in India may make payment in rupees to its non whole time director who is resident outside India and is on a visit to India for the company's work and is entitled to payment of sitting fees or commission or remuneration, and travel expenses to and from and within India, in accordance with the provisions contained in the company's Memorandum of Association or Articles of Association or in any agreement entered into by it or in any resolution passed by the company in general meeting or by its Board of Directors, provided the requirement of any law, rules, regulations, directions applicable for making such payments are duly complied with. 1 [ (iv) by credit to SNRR account maintained by a person resident outside India (overseas seller) with an Authorised Dealer or an Authorised Bank in India for imports into India, as specified in Foreign Exchange Management (Deposit) Regulations, 2016. (v) in rupees to SNRR account of the person resident outside India after ensuring that the underlying transactions are in conformity with the provisions of the Foreign Exchange Management Act, 1999 and the rules, regulations and directions issued thereunder. ] ********** NOTES:- 1. Inserted Vide Notification No. FEMA 14(R)/(1)/2019-RB dated 13-11-2019