Foreign exchange release for advertisements: authorised dealers may permit payments abroad only with the specified government approval. Notification amends Schedule II of the Foreign Exchange Management (Current Account Transactions) Rules, 2000 to permit release of foreign exchange for advertisement abroad as described in the substituted Serial No.2; authorised dealers may provide exchange facilities for Schedule II transactions only where the applicant has obtained approval from the Ministry/Department indicated against the transaction; the circular invokes FEMA enforcement provisions and warns of penalties for non-compliance.
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Foreign exchange release for advertisements: authorised dealers may permit payments abroad only with the specified government approval.
Notification amends Schedule II of the Foreign Exchange Management (Current Account Transactions) Rules, 2000 to permit release of foreign exchange for advertisement abroad as described in the substituted Serial No.2; authorised dealers may provide exchange facilities for Schedule II transactions only where the applicant has obtained approval from the Ministry/Department indicated against the transaction; the circular invokes FEMA enforcement provisions and warns of penalties for non-compliance.
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