Foreign Exchange Management (Current Account Transactions) Rules, 2000
E633190
The Foreign Exchange Management (Current Account Transactions) Rules, 2000 are Indian regulations that govern how residents and entities may conduct and restrict foreign exchange dealings for current account purposes such as trade, travel, education, and remittances.
Statements (42)
| Predicate | Object |
|---|---|
| instanceOf |
Indian subordinate legislation
ⓘ
rules under the Foreign Exchange Management Act, 1999 ⓘ |
| administeredBy |
Ministry of Finance, Government of India
NERFINISHED
ⓘ
Reserve Bank of India NERFINISHED ⓘ |
| appliesTo |
Indian entities dealing in foreign exchange for current account purposes
ⓘ
persons resident in India ⓘ |
| bindingOn |
authorised dealers in foreign exchange
ⓘ
money changers authorised by the Reserve Bank of India ⓘ |
| category | foreign exchange control law ⓘ |
| contains |
Schedule I
ⓘ
Schedule II ⓘ Schedule III NERFINISHED ⓘ |
| country | India ⓘ |
| defines |
prohibited current account transactions
ⓘ
transactions requiring prior approval of the Government of India ⓘ transactions requiring prior approval of the Reserve Bank of India ⓘ |
| distinguishesFrom | capital account transactions ⓘ |
| enablingAct | Foreign Exchange Management Act, 1999 NERFINISHED ⓘ |
| governs |
certain charitable and donation remittances abroad
ⓘ
use of foreign exchange for payment of imports of goods ⓘ use of foreign exchange for payment of imports of services ⓘ |
| imposes | quantitative limits on specified current account remittances ⓘ |
| jurisdiction | Republic of India NERFINISHED ⓘ |
| legalBasisFor |
limits on foreign exchange drawal for education
ⓘ
limits on foreign exchange drawal for medical expenses ⓘ limits on foreign exchange drawal for travel ⓘ remittances for gifts and donations ⓘ |
| legalStatus | subordinate legislation framed under section 5 of FEMA, 1999 ⓘ |
| purpose |
to implement the policy of current account convertibility subject to reasonable restrictions
ⓘ
to regulate foreign exchange outflows and inflows on current account ⓘ |
| regulates |
foreign exchange for education abroad
ⓘ
foreign exchange for medical treatment abroad ⓘ foreign exchange for trade in goods and services ⓘ foreign exchange for travel abroad ⓘ receipt of foreign exchange for current account purposes ⓘ remittances outside India ⓘ |
| relatedTo |
Foreign Exchange Management (Export of Goods and Services) Regulations
NERFINISHED
ⓘ
Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 NERFINISHED ⓘ |
| requires | prior approval for certain sensitive current account remittances ⓘ |
| shortTitle | Foreign Exchange Management (Current Account Transactions) Rules, 2000 NERFINISHED ⓘ |
| subjectMatter | current account transactions in foreign exchange ⓘ |
| yearOfNotification | 2000 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
Foreign Exchange Management Act, 1999
→
basisFor
→
Foreign Exchange Management (Current Account Transactions) Rules, 2000
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