Fema

Foreign Exchange Management - an overview of Current account Transactions

What is new in FEMA regime ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],All colored text is relevant for examination

Foreign Exchange Market in India Regulator: Reserve Bank of India Regulation: Foreign Exchange Management Act, 1999 Authorised Dealers, Money changers Buyers and sellers: exporters, importers, individuals, Corporates, FIIs, Non-Residents, NRIs etc. Tier-I Tier - II Tier-III

Forex Activities in India – Facilitators ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Current Account Capital Account Trade Invisibles Exports Imports Tour Travel Remittance Gift Profit/Div/int FDI Portfolio Foreign Indian Source Source (FII) (GDR/ADR) Loan (Govt/ Pvt(ECB) Foreign currency A/C RI & NRI FOREIGN EXCHANGE TRANSACTIONS

Forex – the Concept ( contd. ) – Current & Capital Account ,[object Object],[object Object],[object Object]

General ,[object Object],[object Object],[object Object],[object Object]

Schedule I ,[object Object],[object Object],[object Object],[object Object],[object Object]

Schedule I (contd…) ,[object Object],[object Object],[object Object]

Schedule II ,[object Object],[object Object]

Schedule III ,[object Object],[object Object]

Limits upto which ADs can release foreign Exchange Sl no Transaction Limit in US $ 1 Private visit USD 10,000 per financial year 2 Business travel, Conference, Training USD 25,000 per trip 3 Medical treatment USD 100,000 or its equivalent on self declaration basis 4 Higher studies USD 1,00,000 per academic year

Limits upto which ADs can release foreign Exchange Sl.no. Transaction Limit 5 Employment Upto USD 1,00,000 6 Emigration Upto USD 1,00,000 7 Gift/donation USD 5,000 per remitter/donor per annum. 8 Maintenance of close relatives abroad – USD 1,00,000 per recipient 9 Cultural as sanctioned by GoI 10 LRS USD 2,00,000 per financial year

Liberalised Remittance Scheme of USD 200000 ,[object Object],[object Object],[object Object],[object Object]

Liberalised Remittance Scheme of USD 200000 ,[object Object],[object Object],[object Object]

Release of Foreign Currency-restrictions ,[object Object],[object Object],[object Object]

Release of foreign Currency-Restrictions ,[object Object],[object Object],[object Object]

Resident Going Abroad- Indian Currency ,[object Object],[object Object]

Utilisation of forex ,[object Object],[object Object],[object Object],[object Object]

Residents coming to India from abroad- ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Fema

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