Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2008

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..... E) Dated 25-1-2008 In exercise of the powers conferred by clause ( b ) of section 9 and clause ( e ) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , Reserve Bank of India makes the following amendment to the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 , Notification No. FEMA 10/20 .....

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..... ency Account with an authorized dealer in India for meeting the local expenses in India of such airline or shipping company: Provided that the credits to such accounts are only by way of freight or passage fare collections in India or by inward remittances through normal banking channels from its office outside India and, in the case of agent, from his principal outside India. ( 2 ) An authori .....

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