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of <h1>Foreign Exchange Management Rules Amended: Limit Increased from $5,000 to $10,000 in Schedule III, Item No. 2</h1> The Central Government has amended the Foreign Exchange Management (Current Account Transactions) Rules, 2000. This amendment involves changing the limit in item no. 2 of Schedule III from 'US $ 5000' to 'US $ 10000.' This change was made under the powers conferred by the Foreign Exchange Management Act, 1999, and in consultation with the Reserve Bank, to serve the public interest. The amendment is titled the Foreign Exchange Management (Current Account Transaction) (Second Amendment) Rules, 2002, and will take effect upon its publication in the Official Gazette.
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