Current account transaction limits under foreign exchange rules increased, expanding permissible remittance ceilings for specified items. Central Government amends Schedule III of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, substituting higher dollar limits in item Numbers 5, 6, 7 and 10, thereby revising permissible ceilings for specified current account remittances. The amendment is made under sections 5 and 46 of the Foreign Exchange Management Act, 1999, in consultation with the Reserve Bank, and is titled the Third Amendment Rules, 2003, coming into force upon publication in the Official Gazette; item Number 15's published substitution appears numerically unchanged.
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Current account transaction limits under foreign exchange rules increased, expanding permissible remittance ceilings for specified items.
Central Government amends Schedule III of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, substituting higher dollar limits in item Numbers 5, 6, 7 and 10, thereby revising permissible ceilings for specified current account remittances. The amendment is made under sections 5 and 46 of the Foreign Exchange Management Act, 1999, in consultation with the Reserve Bank, and is titled the Third Amendment Rules, 2003, coming into force upon publication in the Official Gazette; item Number 15's published substitution appears numerically unchanged.
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