Provide an illustrative list of capital account transactions permitted under the scheme?
The remittance under the Scheme is available to the resident individuals for any permitted current or capital account transactions or a combination of both. Under the Scheme, resident individuals can acquire and hold immovable property or shares or debt instruments or any other assets outside India, without prior approval of the Reserve Bank. Individuals can also open, maintain and hold foreign currency accounts with banks outside India. However, it is clarified that remittance from India for margins or margin calls to overseas exchanges / overseas counterparty are not allowed under the Scheme. The remittance facility under the Scheme is also not available for the following: i) Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery/sweep stakes, tickets, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000. ii) Remittances made directly or indirectly to Bhuta
A.34. The remittance under the Scheme is available to the resident individuals for any permitted current or capital account transactions or a combination of both. Under the Scheme, resident individuals can acquire and hold immovable property or shares or debt instruments or any other assets outside India, without prior approval of the Reserve Bank. Individuals can also open, maintain and hold foreign currency accounts with banks outside India. However, it is clarifed that remittance from India for margins or margin calls to overseas exchanges / overseas counterparty are not allowed under the Scheme. The remittance facility under the Scheme is also not available for the following: i) Remittance for any purpose specifcally prohibited under Schedule-I (like purchase of lottery/sweep stakes, tickets, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000. ii) Remittances made directly or indirectly to B
