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of <h1>RBI Amends 2000 Regulations: Residents Can Now Draw Up to USD 75,000 Annually for Capital Account Transactions.</h1> The Foreign Exchange Management (Permissible Capital Account Transactions) (Amendment) Regulations, 2013, issued by the Reserve Bank of India, amends the 2000 regulations. Effective from its publication date, the amendment allows resident individuals to draw foreign exchange up to USD 75,000 per financial year for specified capital account transactions, subject to conditions. This limit includes remittances for gifts or donations, and prohibits use for transactions with non-cooperative countries as identified by the Financial Action Task Force. The amendment also stipulates that exceeding the USD 75,000 limit requires adherence to specific transaction regulations.
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