Amendment in the Foreign Exchange Management (current Account Transanctions) Rules, 2000

EXTRAORDINARY PART II —Section 3 —Sub-section ( i) PUBLISHED BY AUTHORITY No. 381] NEW DELHI, FRIDAY, JUNE 30, 2023/ASHADHA 9, 194 5 CG-DL-E-30062023-246897 (ii) का. अ.301( ऄ) तारीख 30-03-2001; MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 30 th June, 2023 G.S.R . 472 (E).—In exercise of the powers conferred by section 5 and sub -section (1) and clause (a) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in consultation with Reserve Bank of India, the Central Government having considered it necessary in the public interest he reby amends the Foreign Exchange Management (Current Account Transactions) Rules, 2000, with effect from the 16th May, 2023, namely: - 2. In the Foreign Exchange Management (Current Account Transactions) Rules, 2000 after rule 6, the following rule shall be inserted and shall be deemed to have been inserted with effect from the 16th day of May, 2023 namely: - “7. Use of International Credit Card while outside India. — Nothing contained in rule 5 shall apply to the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India. ”. [F. No. 1/5/2023 -EM] SURBHI JAIN, Jt. Secy. (Financial Market) Explanatory Memorandum Note : It is certified that by giving retrospective effect to the present notification, no one will be adversely affected. Note : The principal rules were published in Gazette of India, Extraordinary, Part II, Section 3, Sub -section (i) vide G.S.R. 381(E), dated the 3rd May, 2000 and subsequently amended vide notification numbers - (i) G.S.R. 663(E), dt 09 -08-2000; (ii) S.O. 301(E) dt 30 -03-2001; (iii) G.S.R. 831(E), dt 17 -12-2002; (iv) G.S.R. 33(E), dt 15 -01-2003; (v) G.S.R. 397(E), dt 01 -05-2003; (vi) G.S.R. 731(E), dt 05 -09-2003; (vii) G.S.R. 849(E), dt 27 -10-2003; (viii) G.S.R. 608(E), dt 13 -09-2004; (ix) G.S.R. 512(E), dt 27 -07-2005; (x) G.S.R. 412(E), dt 10 -07-2006; (xi) G.S.R. 349(E), dt 22 -05-2009; (xii) G.S.R. 382(E), dt 05 -05-2010; (xiii) G.S.R. 426(E), dt 26 -05-2015; and (xiv) G.S.R. 369(E), dt 16 -05-2023 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delh i-110054.