Section 4

Holding of foreign exchange, etc.

The Foreign Exchange Management Act, 1999

  • Act 42 of 1999
  • Ministry of Finance
  • Department of Economic Affairs
About this Act

An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.

All sections
    Save as otherwise provided in this Act, no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India.

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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