RBI Amends Receipt and Payment Norms, Transactions b/w Two ACU Residents Are Mandated Through ACU Mechanism
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- Last Updated on 15 February, 2025
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Notification no. FEMA 14(R) (1)/2025-RB; Dated: 04.02.2025
RBI has notified the FEM (Manner of Receipt & Payment) (Amendment) Regulations, 2025. An amendment has been made to Reg. 3(2)(I)(a)(ii) which specifies that payments between residents of two ACU member countries must be through the ACU mechanism or as directed by the Reserve Bank. For all other transactions between a resident in India and a resident of an ACU country (other than Nepal and Bhutan) payment can be made in INR or in any foreign currency.
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