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of <h1>Foreign Exchange Restrictions on Lotteries, Racing, and Travel Under FEMA Rules 2000, Possible RBI Exemptions</h1> Under the Foreign Exchange Management (Current Account Transaction) Rules 2000, the drawal of foreign exchange is prohibited for specific purposes. These include remittances from lottery winnings, income from racing or hobbies, purchasing lottery tickets or banned items, interest income from Non-Resident Special Rupee accounts, and dividends requiring balancing. Payments are restricted for export commissions related to equity investments abroad, commissions under the Rupee State Credit Route (except for tea and tobacco exports), and telephone call-back services. Transactions involving travel to or dealings with residents of Nepal and Bhutan are also restricted, with possible exemptions by the Reserve Bank of India.
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