Foreign Exchange Management Act (FEMA), 1999 – Current Account Transactions – Remittance of Hiring Charges of Transponders – Procedural Changes

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.....P.(DIR Series) Circular No.20 October 25, 2004 To All Banks Authorised to Deal in Foreign Exchange Madam/ Sirs, Foreign Exchange Management Act (FEMA), 1999 - Current Account Transactions - Remittance of Hiring Charges of Transponders - Procedural Changes Attention of Authorised Dealer (AD) banks is invited to item 2 (viii) of A.P.(DIR Series) Circular No.76 dated February 24, 200....

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..... Accordingly, item No. 6 of Schedule II to the Foreign Exchange Management (Current Account Transactions) Rules, 2000 may please be amended to read as under: Purpose of remittance Ministry/Dept. of Govt. of India whose approval is required 6. Remittance of hiring charges of transponders by: (a) TV Channels (b) Internet service providers Ministry of Information and Broadcastin....