Foreign exchange management: department nomenclature change prompts amendments to current account rules and regulatory directions. The Reserve Bank renamed its Exchange Control Department to the Foreign Exchange Department and the Government notified this change in the Official Gazette; amendments to the Foreign Exchange Management (Current Account Transactions) Rules, 2000 were issued and notified. Authorised Dealers must inform their constituents and customers. The circular is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act and is without prejudice to permissions required under other laws.
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Foreign exchange management: department nomenclature change prompts amendments to current account rules and regulatory directions.
The Reserve Bank renamed its Exchange Control Department to the Foreign Exchange Department and the Government notified this change in the Official Gazette; amendments to the Foreign Exchange Management (Current Account Transactions) Rules, 2000 were issued and notified. Authorised Dealers must inform their constituents and customers. The circular is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act and is without prejudice to permissions required under other laws.
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