https://www.taxtmi.com/circulars?id=54192 Master Direction consolidates rules under FEMA and the Current Account Transactions Rules to govern permissible current account remittances, categorising transactions into prohibited, Government approval and Reserve Bank approval schedules; it subsumes resident individual facilities under the Liberalised Remittance Scheme with an annual ceiling and requires prior Reserve Bank permission for remittances exceeding prescribed limits. The Direction delegates certain release powers to Authorised Dealers, prescribes operational conditions for use of International Credit/Debit/ATM cards, sets traveller cash limits and surrender rules, and mandates documentation, Form A2 retention, KYC/AML compliance and reporting obligations for Authorised Persons. en-us Fri, 01 Jan 2016 00:00:00 +0530 Wed, 11 Mar 2026 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54192 Master Direction consolidates rules under FEMA and the Current Account Transactions Rules to govern permissible current account remittances, categorising transactions into prohibited, Government approval and Reserve Bank approval schedules; it subsumes resident individual facilities under the Liberalised Remittance Scheme with an annual ceiling and requires prior Reserve Bank permission for remittances exceeding prescribed limits. The Direction delegates certain release powers to Authorised Dealers, prescribes operational conditions for use of International Credit/Debit/ATM cards, sets traveller cash limits and surrender rules, and mandates documentation, Form A2 retention, KYC/AML compliance and reporting obligations for Authorised Persons. Circulars FEMA Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54192