Central Government has amended the FEMA (Current Account Transactions) Rules, 2000 by substituting the letters and figures "US $ 5000" to the letters and figures "US $ 10000" in item no. 2 of Schedule III. - GSR. 5(E) - Foreign Exchange Management

Ministry of Finance and Company Affairs Department of Economic Affairs New Delhi Dated: 17 th December 2002 GSR. 5(E) : In exercise of the powers conferred by the proviso to Section 5 read with clause (a) of Sub-section (2) of Section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Central Government in the public interest and in consultation with the Reserve Bank, makes the following further amendments to the Foreign Exchange Management (Current Account Transactions) Rules, 2000 , namely: 1. (1) These rules may be called the Foreign Exchange Management (Current Account Transaction) (Second Amendment) Rules, 2002. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Foreign Exchange Management (Current Account Transaction) Rules, 2000, in schedule III, in item No. 2, for the letters and figures US $ 5000 the letters and figures US $ 10000 shall be substituted.