Rule 3 - Prohibition on drawal of foreign exchange - Foreign Exchange Management (Current Account Transactions) Rules, 2000

3. Prohibition on drawal of foreign exchange. Drawal of foreign exchange by any person for the following purpose is prohibited, namely :- (a) a transaction specified in the Schedule I ; or - (b) a travel to Nepal and/ or Bhutan; or (c) a transaction with a person resident in Nepal of Bhutan : Provided that the prohibition in clause (c) may be exempted by Reserve Bank of India subject to such term and conditions as it may consider necessary to stipulate by special or general order.