SCHEDULE III - See Rule 5 - Transactions which require prior approval of Reserve Bank - Foreign Exchange Management (Current Account Transactions) Rules, 2000

25 [ SCHEDULE III (See rule 5) Facilities for individuals- 1. Individuals can avail of foreign exchange facility for the following purposes within the limit of USD 2,50,000 only. Any additional remittance in excess of the said limit for the following purposes shall require prior approval of the Reserve Bank of India. (i) Private visits to any country (except Nepal and Bhutan). (ii) Gift or donation. (iii) Going abroad for employment. (iv) Emigration. (v) Maintenance of close relatives abroad. (vi) Travel for business, or attending a conference or specialised training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/ check-up. (vii) Expenses in connection with medical treatment abroad. (viii) Studies abroad. (ix) Any other current account transaction: Provided that for the purposes mentioned at item numbers (iv), (vii) and (viii), the individual may avail of exchange facility for an amount in excess of the limit prescribed under the Liberalised Remittance Scheme as provided in regulation 4 to FEMA Notification 1/2000-RB, dated the 3rd May, 2000 (here in after referred to as the said Liberalised Remittance Scheme) if it is so required by a country of emigration, medical institute offering treatment or the university, respectively: Provided further that if an individual remits any amount under the said Liberalised Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USD 250,000 (US Dollars Two Hundred and Fifty Thousand Only) by the amount so remitted: provided also that for a person who is resident but not permanently resident in India and (a) is a citizen of a foreign State other than Pakistan; or (b) is a citizen of India, who is on deputation to the office or branch of a foreign company or subsidiary or joint venture in India of such foreign company, may make remittance up to his net salary (after deduction of taxes, contribution to provident fund and other deductions). Explanation: For the purpose of this item, a person resident in India on account of his employment or deputation of a specified duration (irrespective of length thereof) or for a specific job or assignments, the duration of which does not exceed three years, is a resident but not permanently resident: provided also that a person other than an individual may also avail of foreign exchange facility, mutatis mutandis, within the limit prescribed under the said Liberalised Remittance Scheme for the purposes mentioned herein above. Facilities for persons other than individual - 2. The following remittances by persons other than individuals shall require prior approval of the Reserve Bank of India. (i) Donations exceeding one per cent. of their foreign exchange earnings during the previous three financial years or USD 5,000,000, whichever is less, for- (a) creation of Chairs in reputed educational institutes, (b) contribution to funds (not being an investment fund) promoted by educational institutes; and (c) contribution to a technical institution or body or association in the field of activity of the donor Company. (ii) Commission, per transaction, to agents abroad for sale of residential flats or commercial plots in India exceeding USD 25,000 or five percent. of the inward remittance whichever is more. (iii) Remittances exceeding USD 10,000,000 per project for any consultancy services in respect of infrastructure projects and USD 1,000,000 per project, for other consultancy services procured from outside India. Explanation:-For the purposes of this sub-paragraph, the expression infrastructure shall mean as defined in explanation to para 1(iv)(A)(a) of Schedule I of FEMA Notification 3/2000-RB, dated the May 3, 2000. (iv) Remittances exceeding five per cent of investment brought into India or USD 100,000 whichever is higher, by an entity in India by way of reimbursement of pre-incorporation expenses. 3. Procedure The procedure for drawal or remit of any foreign exchange under this schedule shall be the same as applicable for remitting any amount under the said Liberalised Remittance Scheme .] ***************** NOTES:- 1 . Substituted vide Notification No. 42/2001 dated 30-03-2001 , w.e.f. 30-03-2001 before it was read as, 3. Gift remittance exceeding US$ 5,000 per beneficiary per annum. 2 . Substituted vide Notification No. 42/2001 dated 30-03-2001 , w.e.f. 30-03-2001 before it was read as, 4. Donation exceeding US$ 5,000 per annum per beneficiary. 3 . Substituted vide Notification No. 42/2001 dated 30-03-2001 , w.e.f. 30-03-2001 before it was read as, 7. Remittance for maintenance of close relatives abroad exceeding US$ 5,000 per year per recipient. 4 . Inserted vide Notification No. 42/2001 dated 30-03-2001 , w.e.f. 30-03-2001. 5 . Substituted vide Notification No. 42/2001 dated 30-03-2001 , w.e.f. 30-03-2001 before it was read as, 15. Remittances exceeding US$ 100,000 for architectural / consultancy services procured from abroad. 6 . Inserted vide Notification No. 42/2001 dated 30-03-2001 , w.e.f. 30-03-2001. 7 . Substituted vide Notification No. G.S.R. 5(E) dated 17-12-2002 , w.e.f. 17-12-2002 before it was read as, US $ 5000 8 . Substituted vide Notification No. G.S.R. 397(E) dated 01-05-2003 , w.e.f. 01-05-2003 before it was read as, (i) exceeding net salary (after deduction of taxes, contribution to provident fund and other deductions) of a person who is resident but not permanently resident in India and is a citizen of a foreign state other than Pakistan. 9 . Substituted vide Notification No. G.S.R. 397(E) dated 01-05-2003 , w.e.f. 01-05-2003 before it was read as, employment of 10 . Substituted vide Notification No. GSR 731(E) dated 05-09-2003 w.e.f. 05-09-2003 before it was read as, US $ 5,000 11 . Substituted vide Notification No. GSR 731(E) dated 05-09-2003 w.e.f. 05-09-2003 before it was read as, US $ 5,000 12 . Substituted vide Notification No. GSR 731(E) dated 05-09-2003 w.e.f. 05-09-2003 before it was read as, US $ 5,000 13 . Substituted vide Notification No. GSR 731(E) dated 05-09-2003 w.e.f. 05-09-2003 before it was read as, US $ 30,000 14 . Substituted vide Notification No. GSR 731(E) dated 05-09-2003 w.e.f. 05-09-2003 before it was read as, US $ 1,00,000 15 . Omitted vide Notification no. GSR 608(E) dated 13.9.2004 . w.e.f. 13-09-2004 before it was read as, Remittance by artiste e.g. wrestler, dancer, entertainer etc. (This restriction is not applicable to artistes engaged by tourism related organisations in India like ITDC, State Tourism Development Corporations etc. during special festivals or those artistes engaged by hotels in five star categories, provided the expenditure is met out of EEFC account.) 16 . Substituted vide Notification no. GSR 608(E) dated 13.9.2004 . w.e.f. 13-09-2004 before it was read as, 11. Commission to agents abroad for sale of residential flats / commercial plots in India, exceeding 5% of the inward remittance. 17 . Omitted vide Notification no. GSR 608(E) dated 13.9.2004 . w.e.f. 13-09-2004 before it was read as, 12. Short term credit to overseas offices of Indian companies. 13. Remittance for advertisement on foreign television by a person whose export earnings are less than Rs. 10 lakhs during each of the preceding two years. 14. Remittances of royalty and payment of lump-sum fee under the technical collaboration agreement which has not been registered with Reserve Bank. 18 . Substituted vide Notification no. GSR 608(E) dated 13.9.2004 . w.e.f. 13-09-2004 before it was read as, 16. Remittances for use and / or purchase of trade mark / franchise in India. 19 . Omitted vide Notification no. GSR 608(E) dated 13.9.2004 . w.e.f. 13-09-2004. 20 . Omitted vide Notification No. G.S.R. 412(E) dated 10-07-2006 w.e.f. 10-07-2006 before it was read as, 18 [ 16. Remittance for purchase of trademark or franchise in India. ] 21 . Substituted vide Notification No. G.S.R. 349(E) dated 22-05-2009 , w.e.f. 20-12-2006 before it was read as, 2. Release of exchange exceeding 7 [ US$ 10000 ] or its equivalent in one calendar year, for one or more private visits to any country (except Nepal and Bhutan). 1 [ 3. Gift remittance exceeding US$ 5,000 per remitter / donor per annum. ] 22 . Substituted vide Notification No. G.S.R. 349(E) dated 22-05-2009 , w.e.f. 03-04-2007 before it was read as, 2 [ 4. Donation exceeding US$ 5,000 per remitter / donor per annum. ] 23 . Substituted vide Notification No. G.S.R. 349(E) dated 22-05-2009 , w.e.f. 03-04-2007 before it was read as, 5 [ 15. Remittance exceeding 14 [ US$ 1,000,000 ] , per project, for any consultancy service procured from outside India. ] 24 . Substituted vide Notification No. G.S.R. 349(E) dated 22-05-2009 , w.e.f. 03-04-2007, before it was read as, 6 [ 17. Remittance exceeding US$100,000, by an entity in India by way of reimbursement of pre-incorporation expenses. ] 25 . Substituted vide Notification No. G.S.R. 426(E) dated 26-05-2015 , w.e.f. 326-05-2015, before it was read as, SCHEDULE III (See rule 5) Transactions which require prior approval of Reserve Bank 1. 15 [****] 21 [ 2. Release of exchange exceeding US$ 10,000 or its equivalent in one financial year for one or more private visits to any country (except Nepal and Bhutan). 3. Gift remittance exceeding US$ 5,000 per financial year per remitter or donor other than resident individual; ] 22 [ 4. (i) Donation exceeding US$ 5,000 per financial year per remitter or donor other than resident individual; (ii) Donations by corporate, exceeding one per cent of their foreign exchange earnings during the previous three financial years or US$ 5,000,000, whichever is less, for,- (a) creation of Chairs in reputed educational institutes; (b) to funds (not being an investment fund) promoted by educational institutes; and (c) to a technical institution or body or association in the field of activity of the donor company. Explanation - For the purposes of these item numbers 3 and 4, remittance of gift and donation by resident individuals are subsumed under the Liberalised Remittance Scheme. ] 5. Exchange facilities exceeding 10 [ US $ 100,000 ] for persons going abroad for employment. 6. Exchange facilities for emigration exceeding 11 [ US $ 100,000 ] or amount prescribed by country of emigration 3 [ 7. Remittance for maintenance of close relatives abroad, 8 [ (i) exceeding net salary (after deduction of taxes, contribution to provident fund and other deductions) of a person who is resident but not permanently resident in India and (a) is a citizen of a Foreign State other than Pakistan; or (b) is a citizen of India, who is on deputation to the office or branch or subsidiary or joint venture in India of such foreign company. ] (ii) Exceeding 12 [ US $ 100,000 ] per year per recipient, in all other cases. Explanation : For the purpose of this item, a person resident in India on account of his 9 [ employment or deputation of ] a specified duration (irrespective of length thereof) or for a specific job or assignment; the duration of which does not exceed three years, is a resident but not permanently resident. ] 8. Release of foreign exchange, exceeding US$ 25,000 to a person, irrespective of period of stay, for business travel, or attending a Conference or specialised training or for maintenance expenses of a patient going abroad for medical treatment or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment / check-up. 9. Release of exchange for meeting expenses for medical treatment abroad exceeding the estimate from the doctor in India or hospital / doctor abroad. 10. Release of exchange for studies abroad exceeding the estimates from the institution abroad or 13 [ US$ 100,000 ] 4 [ per academic year ] , whichever is higher. 16 [ 11. Commission, per transaction, to agents abroad for sale of residential flats or commercial plots in India exceeding USD 25,000 or 5% of the inward remittance whichever is more. ] 12. 17 [**** 13.**** 14. *****] 23 [ 15. Remittances exceeding US$ 10,000,000 per project, for any consultancy services in respect of infrastructure projects and US$ 1,000,000 per project for other consultancy services procured from outside India. Explanation - For the purposes of this item number infrastructure project is those related to (i) Power, (ii) Telecommunication, (iii) Railways, (iv) Roads including bridges, (v) Sea port and airport, (vi) Industrial parks, and (vii) Urban infrastructure (water supply, sanitation and sewage). ] 16. 20 [***] 24 [ 17. Remittances exceeding five per cent of the investment brought into India or US$ 1,00,000 whichever is higher, by an entity in India by way of reimbursement of pre-incorporation expenses. ] 18. 19 [***]