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The Reserve Bank of India permits any person to buy foreign exchange in the form of postal orders or money orders from any Post Office. This action follows the Foreign Exchange Management Act. The regulation supersedes Notification No. FEMA 18/2000-RB dated May 3, 2000. The regulation comes into force on the date of publication in the Official Gazette.
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Relative A.P. (DIR) circular: 49/[(1)/18(R)]/04.02.2016
RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400001
Notification No. FEMA 18(R) /RB-2015
December 29, 2015
Post Office (Postal Orders/Money Orders)
In pursuance of clause (a) of Section 3 of Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 18/2000-RB dated May 3, 2000, as amended from time to time, the Reserve Bank of India is pleased to permit any person to buy from any Post Office, in accordance with any law or rules made thereunder for the time being in force, any foreign exchange in the form of postal orders or money orders.
They shall come into force from the date of their publication in the Official Gazette.
(B P Kanungo) Principal Chief General Manager
Published in the Official Gazette of Government of India – Extraordinary – Part-II, Section 3, Sub-Section (i) dated 29.12.2015- G.S.R.No.1009(E)
