Imports on c.i.f. basis by Government Departments / Public Sector Undertakings

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..... nt Departments / Public Sector Undertakings Attention of Authorised Dealer Banks is invited to item 4 of Schedule II of the Foreign Exchange Management (Current Account Transactions) Rules, 2000 issued vide Government of India Notification No.GSR.381(E) dated May 3, 2000 in terms of which, Public Sector Undertakings/ Government Departments are required to obtain the approval of the Ministry of .....

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..... ode of transport is other than ocean transport. 4. The direction contained in this circular has been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. 5. Authorised Dealer Banks may bring the contents of this circular to the notice of their constituent .....

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..... ed the Foreign Exchange Management (Current Account Transactions) (Fourth Amendment) Rules, 2003. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Foreign Exchange Management (Current Account Transaction) Rules, 2000, in Schedule II, under the heading "purpose of Remittance", in item 4, after the words "Payment of import" the words "through o .....

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