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of <h1>Foreign Exchange Rules Amended: New Limits on Private Visits, Gifts, and Corporate Donations. Effective Dates: 2006-2007.</h1> The Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2009, issued by the Ministry of Finance, amend the 2000 rules concerning foreign exchange transactions. Key changes include setting limits for private visit exchanges to US$ 10,000 annually and gift remittances to US$ 5,000, effective from December 20, 2006. Donations by corporates are limited to 1% of foreign exchange earnings or US$ 5,000,000, effective April 3, 2007. Remittances for infrastructure project consultancy services are capped at US$ 10,000,000 per project. The amendments clarify that no person will be adversely affected by these retrospective changes.
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