Current account foreign exchange transactions permit authorised sales and drawals, subject to prescribed public-interest restrictions after consultation. Section 5 permits any person to sell or draw foreign exchange to or from an authorised person where the transaction is a current account transaction. The ... Summary
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Current account foreign exchange transactions permit authorised sales and drawals, subject to prescribed public-interest restrictions after consultation.
Section 5 permits any person to sell or draw foreign exchange to or from an authorised person where the transaction is a current account transaction. The Central Government may, in the public interest and after consultation with the Reserve Bank, prescribe reasonable restrictions governing such transactions.
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