Foreign Exchange Management Act (FEMA), 1999 Current Account Transaction Rules –Amendment - FEMA - 038

Foreign Exchange Management Act (FEMA), 1999 Current Account Transaction Rules -Amendment RBI/2006-2007/314 A. P. (DIR Series) Circular No. 38 Apri 05, 2007 To, All Authorised Dealer Banks Madam / Sir, Foreign Exchange Management Act (FEMA), 1999 Current Account Transaction Rules - Amendment Attention of Authorised Dealer (AD) banks is invited to Foreign Exchange Management (Current Account Transactions) Rules, 2000 notified vide Notification No. G.S.R. 381(E) dated 3rd May 2000, as amended from time to time (the Rules). 2. Government of India has made certain amendments to the Rules vide Notification G.S.R. 512(E) dated July 28, 2005, a copy of which is annexed. 3. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 4. The directions contained in this Circular have been issued under Section 10 (4) and 11 (1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (Salim Gangadharan) Chief General Manager-in-Charge