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of <h1>Understanding 'Current Account Transaction' Under Foreign Exchange Management Act, 1999: Key Aspects and Inclusions</h1> A 'Current Account Transaction' under the Foreign Exchange Management Act, 1999, refers to transactions that are not capital account transactions. These include payments related to foreign trade, business services, and short-term banking and credit facilities. It also covers payments of interest on loans, net income from investments, remittances for living expenses of family members abroad, and expenses related to foreign travel, education, and medical care for family members.
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