https://www.taxtmi.com/circulars?id=55204 The circular implements the Foreign Exchange Management Act, 1999 from 1 June 2000, prescribing that current account transactions are generally permitted except where prohibited or regulated by schedules and approvals; capital account transactions are regulated by detailed RBI Regulations setting ceilings, eligibility criteria, funding sources, reporting obligations and prior approval requirements; authorised dealers must obtain declarations, preserve records, refuse non compliant transactions and report suspected contraventions; and transactions outside the Act's permissions require Reserve Bank approval. en-us Tue, 16 May 2000 00:00:00 +0530 Fri, 18 Nov 2016 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=55204 The circular implements the Foreign Exchange Management Act, 1999 from 1 June 2000, prescribing that current account transactions are generally permitted except where prohibited or regulated by schedules and approvals; capital account transactions are regulated by detailed RBI Regulations setting ceilings, eligibility criteria, funding sources, reporting obligations and prior approval requirements; authorised dealers must obtain declarations, preserve records, refuse non compliant transactions and report suspected contraventions; and transactions outside the Act's permissions require Reserve Bank approval. Circulars RBI Tue, 16 May 2000 00:00:00 +0530 https://www.taxtmi.com/circulars?id=55204