**Summary:**
This document outlines the Foreign Exchange Management (Export and Import of Currency) Second Amendment Regulations, 2020, issued by the Reserve Bank of India (RBI) under Notification No. FEMA 6/R/3/2020-RB. The regulations, effective from the date of publication in the Official Gazette (December 4, 2020), amend the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015.
The key amendment introduces a new Regulation 10, granting the Reserve Bank of India the power to restrict the export or import of currency. Specifically, notwithstanding existing regulations, the RBI, in consultation with the Central Government and in the public interest, may restrict the amount of Indian currency notes (issued by the Government of India and/or the Reserve Bank) and/or foreign currency that a person may bring into or take outside India. The RBI can also prescribe conditions it deems necessary on a case-by-case basis.
The principal regulations were initially published in the Official Gazette vide GSR No.1004(E) dated December 29, 2015, in Part II, Section 3, subsection (i) and subsequently amended vide: i G.S.R. No. 151(E) dated 26.02.2019; and ii No. FEMA 6/R/2/2020-RB dated 11.08.2020 published in the Gazette on 18.08.2020.
The issuing authority is the Foreign Exchange Department of the Reserve Bank of India, Central Office, Mumbai. Ajay Kumar, Regional Director, is noted in the document.
Key Entities Referenced
Foreign Exchange Management Act, 1999: An act of the Parliament of India to make provisions relating to foreign exchange.
Reserve Bank of India: The central bank of India.
Foreign Exchange Management Export and Import of Currency Regulations, 2015: Regulations pertaining to the export and import of currency, as per the Foreign Exchange Management Act.
Foreign Exchange Management Export and Import of Currency Second Amendment Regulations, 2020: Amendments to the Foreign Exchange Management Export and Import of Currency Regulations, 2015.
Central Government: The executive branch of the Government of India.
Mumbai, Maharashtra: Location of the Central Office of the Reserve Bank of India where the notification was issued.
AJAY KUMAR: Regional Director at Reserve Bank of India
New Delhi, Delhi: Location of Government of India Press.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-04122020-223487
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 535] नई ददल्ली, िुक्रर्ार, ददसम्ब र 4, 2020/ अग्रहायण 13, 1942
No. 535] NEW DELHI, FRIDAY, DECEMBER 4, 2020/AGRAHAYANA 13, 1942
भारतीय ररज़र् वबकैं
(जर्देिी मद्रु ा जर्भाग)
(केंद्रीय कायालव य)
अजधसचू ना
मुंबई, 3 ददसंबर 2020
स.ंफेमा.6(आर)/ (3) /2020 – आरबी
जर्देिी मद्रु ा प्रबधं (करेंसी का जनयातव और आयात) (दसू रा सिं ोधन) जर्जनयमार्ली, 2020
जर्देिी मुद्रा प्रबंध अजधजनयम,1999 (1999 का 42) की धारा- 47 की उप-धारा (2) के खंड (िीए) द्वारा प्रदत्त िजियों
का प्रयोग करते हुए भारतीय ररज़र्व बैंक, जर्देिी मुद्रा प्रबंध (करेंसी का जनयावत और आयात) जर्जनयमार्ली, 2015 (29
ददसंबर 2015 की अजधसूचना सं. फेमा 6 (आर)/आरबी-2015) (जिसे इसके पश्चात ‘मूल जर्जनयमार्ली’ कहा िाएगा) म ें
जनम्नजलजखत संिोधन करता ह,ै अर्ावत:
1. संजिप्त नाम और प्रारंभ :-
(i) यह जर्जनयमार्ली जर्देिी मुद्रा प्रबंध (करेंसी का जनयावत और आयात) (दसू रा संिोधन) जर्जनयमार्ली, 2020
कहलाएगी।
5909 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
(ii) यह जर्जनयमार्ली सरकारी रािपत्र म ेंउसके प्रकािन की तारीख से लागू होगी।
2. नए जर्जनयम 10 को समाजर्ष्ट करना :
मूल जर्जनयमार्ली म,ें जर्जनयम 9 के बाद जनम्नजलजखत नए जर्जनयम को िोड़ा िाएगा, अर्ावत,-
“10. करेंसी के जनयातव अर्र्ा आयात को प्रजतबजं धत करन े संबधं ी ररज़र् व बकैं की िजिया ाँ : इस जर्जनयमार्ली म ें
जनजहत दकसी बात के होत े हुए भी, ररज़र् व बैंक, िनजहत म ें तर्ा केंद्र सरकार के सार् परामिव कर के, मामल-े दर-
मामले के आधार पर दकसी व्यजि द्वारा भारत सरकार के और/ अर्र्ा भारतीय ररज़र् व बैंक के करेंसी नोटों और/
अर्र्ा जर्देिी करेंसी को भारत म ें लाने अर्र्ा भारत के बाहर ल े िाने की राजि को प्रजतबंजधत कर सकता ह ै तर्ा
उसके द्वारा आर्श्यक समझी गई ित ें जनधावररत कर सकता ह।ै ”
अिय कुमार, िेत्रीय जनदेिक
[जर्ज्ञापन III/4/असा./395/2020-21]
रटप्पणी:
मूल जर्जनयमार्ली ददनांक 29 ददसंबर 2015 के िी.एस.आर.सं.1004(ई) द्वारा भारत सरकार के सरकारी रािपत्र के
भाग II, खंड-3, उप-खंड(i) में प्रकाजित की गई र्ी और बाद में इसे जनम्नजलजखत द्वारा संिोजधत दकया गया:
i) ददनांक 26.02.2019 की अजधसूचना- िी.एस.आर. स.ं151(ई); तर्ा
ii) ददनांक 11.08.2020 की अजधसूचना सं. फेमा6(आर)/(2)/2020-आरबी (िो ददनांक 18.08.2020 को रािपत्र म ें
प्रकाजित हुई र्ी।)
RESERVE BANK OF INDIA
(Foreign Exchange Department)
(CENTRAL OFFICE)
NOTIFICATION
Mumbai, the 3rd December 2020
No. FEMA 6 (R)/ (3)/2020-RB
Foreign Exchange Management (Export and Import of Currency) (Second Amendment) Regulations, 2020
In exercise of the powers conferred by clause (ga) of sub- section (2) of Section 47 of the Foreign Exchange
Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign
Exchange Management (Export and Import of Currency) Regulations, 2015 (Notification No. FEMA 6 (R)/RB-2015
dated December 29, 2015) (hereinafter referred to as 'the Principal Regulations'), namely: —
1. Short title & Commencement:
(i) These Regulations may be called the Foreign Exchange Management (Export and Import of Currency) (Second
Amendment) Regulations, 2020.
(ii) They shall come into force from the date of their publication in the Official Gazette.
2. Insertion of new Regulation 10:
In the Principal Regulations, after Regulation 9, the following new regulation shall be inserted, namely, -
“10. Reserve Bank’s power to restrict export or import of currency: Notwithstanding anything
contained in these regulations, the Reserve Bank, may, in public interest and in consultation with the
Central Government, restrict the amount of Indian currency notes of Government of India and/or of
Reserve Bank, and/or foreign currency, on case-to-case basis, that a person may bring into or take
outside India and prescribe such conditions as it may deem necessary.”
AJAY KUMAR, Regional Director
[ADVT-III/4/Exty./395/2020-21][भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3
Note:
The Principal Regulations were published in the Official Gazette vide GSR No.1004(E) dated December 29, 2015 in
Part II, Section 3, sub-section (i) and subsequently amended vide:
i) G.S.R. No. 151(E) dated 26.02.2019; and
ii) No. FEMA 6 (R)/ (2)/2020-RB dated 11.08.2020 (published in the Gazette on 18.08.2020)
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.