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

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..... 008 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 10/2000-RB dated 3rd May, 2000 as amend .....

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..... ing 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 authorized dealer in India may, subject to the directions as may be .....

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