Tag Archives: Currency

Definition of Currency includes Debit cards and ATM cards

Source : Reserve Bank of India RBI/2015-16/313 A.P. (DIR Series) Circular No.48/2015-16 [(1)/15(R)] February 04, 2016 To All Category – I Authorised Dealers and Authorised Banks Madam/ Sir Definition of “Currency”, 2015 Attention of Authorised Dealers (ADs) is invited to Notification No. FEMA. 15(R)/2015-RB dated December 29, 2015 notified vide G.S.R. No.1008 (E) dated December… Read More »

Debit and ATM Cards are defined as Currency under FEMA

NOTIFICATION Mumbai, the 29th December, 2015 No. FEMA 15 (R)/ 2015 – RB Definition of ” Currency “ G.S.R. 1008(E).—In pursuance of clause (h) of Section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 15/ 2000-RB dated May 3, 2000, as amended from time to time,… Read More »