Sponsored
    Follow Us:
Sponsored

RBI/2015-16/314
A.P. (DIR Series) Circular No.49/2015-16 [(1)/18(R)]

February 04, 2016

To

All Category – I Authorised Dealers and Authorised Banks

Madam/ Sir

Post Office (Postal Orders/Money Orders), 2015

Attention of Authorised Dealers (ADs) is invited to Notification No. FEMA. 18(R)/2015-RB dated December 29, 2015 notified vide G.S.R. No.1009 (E) dated December 29, 2015, which supersedes the Notification No. FEMA.18/2000-RB.

2. Synopsis of the new regulations is given as under:

General permission has been given to any person to buy foreign exchange from any post office in India in the form of postal order or money order.

3. The new regulations have been notified vide Notification No. FEMA. 18(R)/2015-RB dated December 29, 2015, c.f. G.S.R. No.1009 (E) dated December 29, 2015 and shall come into force with effect from December 29, 2015.

4. AD Category- I banks may bring the contents of the circular to the notice of their constituents concerned.

5. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law.

Yours faithfully,

B P Kanungo)
Principal Chief General Manager

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
December 2024
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031