Manner of payment in foreign exchange

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..... mbursement to his branch or correspondent outside India against payment for import into India, or against any other payment, shall be as mentioned below : (A) 1 [Members of Asian Clearing Union (ACU)] (i) Bangladesh, Myanmar, Pakistan, Sri Lanka Republic of Maldives (a) 2 [ Payment for import of eligible goods and services by credit to ACU Dollar account and / or ACU Euro accou .....

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..... erve Bank to the authorized dealers from time to time. (b) Payment in any freely convertible currency and / or in accordance with the directions issued by the Reserve Bank to the authorized dealers from time to time in all other cases. (B) All countries other than those mentioned in A above- (i) Payment in rupees from the account of a bank situated in any country other than a member cou .....

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..... rty (a party other than the supplier) as per the guidelines issued by the Reserve Bank. ************ NOTES:- 1. Substituted vide Notification No. FEMA 14(R)/(2)/2020-RB dated 04-03-2020 before it was read as Members of the Asian Clearing Union 2. Substituted vide Notification No. FEMA 14(R)/(2)/2020-RB dated 04-03-2020 before it was read as (a) Payment for .....

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