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of <h1>Regulation 4 Limits Foreign Exchange to USD 250,000 Annually; Restrictions on Transactions with North Korea and Non-Cooperative Countries</h1> Regulation 4 of the Foreign Exchange Management (Permissible Account Transaction) Regulation, 2000, outlines prohibitions on capital account transactions. Resident individuals are restricted from drawing foreign exchange exceeding USD 250,000 per financial year for specified transactions, with limitations on remittances to non-cooperative countries. Non-residents cannot invest in certain sectors in India, like chit funds, unless permitted by authorities. Residents in India are prohibited from transactions with entities in North Korea without government approval. Existing investments in North Korea must be closed within 180 days unless otherwise authorized. Payments for investments must follow Reserve Bank regulations, and declarations must be furnished for transactions.
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