Current Account Transaction: covers payments for trade, services, interest, remittances and short term banking under foreign exchange law. Current Account Transaction denotes any foreign exchange transaction other than a capital account transaction and includes payments for foreign trade, ordinary business and services, short term banking and credit facilities, interest on loans and net investment income, remittances for living expenses of immediate family abroad, and expenses for foreign travel, education and medical care of parents, spouse and children.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Current Account Transaction: covers payments for trade, services, interest, remittances and short term banking under foreign exchange law.
Current Account Transaction denotes any foreign exchange transaction other than a capital account transaction and includes payments for foreign trade, ordinary business and services, short term banking and credit facilities, interest on loans and net investment income, remittances for living expenses of immediate family abroad, and expenses for foreign travel, education and medical care of parents, spouse and children.
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