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of <h1>Foreign Exchange Management Rules Set Guidelines for Current Account Transactions Under FEMA Sections 5 and 46</h1> The Foreign Exchange Management (Current Account Transactions) Rules, 2000 were issued by the Central Government under Sections 5 and 46 of the Foreign Exchange Management Act, 1999. These rules establish regulations for current account transactions, providing a legal framework for managing foreign exchange activities. The rules were notified on May 3, 2000, and became effective on June 1, 2000, aiming to govern and streamline current account transactions in consultation with the Reserve Bank.
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