Prohibited transactions clarified: Schedules amended to label prohibited and approval-required current account transactions under FEMA. Central Government amended the Foreign Exchange Management (Current Account Transactions) Rules, 2000 by substituting the bracketed references in Schedule I and Schedule II with explicit labels: Schedule I now reads 'Transactions which are Prohibited (see rule 3)' and Schedule II now reads 'Transactions which require prior approval of the Central Government (see Rule 4)'; the amendment is titled the 2005 Amendment Rules and comes into force upon publication in the Official Gazette.