Use of International Credit Card while outside India - Amendment in Foreign Exchange Management (Current Account Transactions) Rules, 2000 - G.S.R. 472 (E) - Foreign Exchange Management

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 30th June, 2023 G.S.R. 472(E). In exercise of the powers conferred by section 5 and sub-section (1) and clause (a) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) , and in consultation with Reserve Bank of India, the Central Government having considered it necessary in the public interest hereby amends the Foreign Exchange Management (Current Account Transactions) Rules, 2000 , with effect from the 16th May, 2023, namely:- 2. In the Foreign Exchange Management (Current Account Transactions) Rules, 2000 after rule 6 , the following rule shall be inserted and shall be deemed to have been inserted with effect from the 16th day of May, 2023 namely: - 7. Use of International Credit Card while outside India. Nothing contained in rule 5 shall 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. . [F. No. 1/5/2023-EM] SURBHI JAIN, Jt. Secy. (Financial Market) Explanatory Memorandum Note : It is certified that by giving retrospective effect to the present notification, no one will be adversely affected. Note : The principal rules were published in Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 381(E), dated the 3rd May, 2000 and subsequently amended vide notification numbers - (i) G.S.R. 663(E), dt 09-08-2000; (ii) S.O. 301(E) dt 30-03-2001; (iii) G.S.R. 831(E), dt 17-12-2002; (iv) G.S.R. 33(E), dt 15-01-2003; (v) G.S.R. 397(E), dt 01-05-2003; (vi) G.S.R. 731(E), dt 05-09-2003; (vii) G.S.R. 849(E), dt 27-10-2003; (viii) G.S.R. 608(E), dt 13-09-2004; (ix) G.S.R. 512(E), dt 27-07-2005; (x) G.S.R. 412(E), dt 10-07-2006; (xi) G.S.R. 349(E), dt 22-05-2009; (xii) G.S.R. 382(E), dt 05-05-2010; (xiii) G.S.R. 426(E), dt 26-05-2015; and (xiv) G.S.R. 369(E), dt 16-05-2023