The Ministry of Finance (MoF) on May 16, 2023, issued the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023 to further amend the Foreign Exchange Management (Current Account Transactions) Rules, 2000.
The following amendments have been stated:
• Rule 7 which states the Use of International Credit Cards while outside India has been omitted.
They shall come into force on May 16, 2023.
[Notification No. G.S.R. 369(E)]