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Transaction which is require Prior approval of Government of India - Rule 4 - FEMA Ready Reckoner - FEMAExtract Transaction which is require Prior approval of Government of India Prior approval of Government of India- Rule 4 of Foreign Exchange Management (Current Account Transaction) Rules 2000 , as amended from time to time No person shall draw foreign exchange for a transaction included in the Schedule II without prior approval of Ministry/Department of the Government of India. Exception:- this rule shall not apply where the payment is made out of funds held in Resident Foreign Currency (RFC) Account of the remitter. Transactions which require prior approval of the Central Government SCHEDULE II - Foreign Exchange Management (Current Account Transaction) Rules 2000, as amended from time to time Purpose of Remittance Ministry/Department of Government of India whose approval is required 1. Cultural Tours Ministry of Human Resource Development (Department of Education and Culture) 2. Advertisement in foreign print media for the purposes other than promotion of tourism, foreign investments and international bidding (exceeding US$ 10,000) by a State Government and its Public Sector Undertakings. Ministry of Finance, Department of Economic Affairs. 3. Remittance of Freight of vessel chartered by a PSU Ministry of Shipping Transport, (Chartering Wing) 4. Payment of import through ocean transport by a Government Department or a PSU on C.I.F. basis (i.e., other than F.O.B. and F.A.S. basis) Ministry of Shipping Transport, (Chartering Wing) 5. Multi-modal transport operators making remittance to their agents abroad Registration Certificate from the Director General of Shipping 6. Remittance of hiring charges of transponders by TV Channels and Internet Service Providers Ministry of Information and Broadcasting 7. Remittance of container detention charges exceeding the rate prescribed by Director General of Shipping Ministry of Surface Transport (Director General of Shipping) 8. Omitted 9. Remittance of prize money/sponsorship of sports activity abroad by a person other than International/National/State Level sports bodies, if the amount involved exceeds US$ 1,00,000 Ministry of Human Resource Development, (Department of Youth Affairs and Sports) 10. Omitted 11. Remittance for membership of P I Club Ministry of Finance (Insurance Division)
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