Current Account Transaction is a transaction other than a capital account transaction and includes:
1.Payment due in connection with foreign trade, other current business, services and short term banking and credit facilities in the ordinary course of business.
2.Payments due as interest on loans and as net income from investments.
3.Remittances for living expenses of parents, spouse and children residing abroad.
4.Expenses in connection with foreign travel, education and medical care of parents, spouse and children.
5. Any expenditure which is not covered under capital account transaction
All the current account transactions are free from restrictions, unless specifically restricted by Central Government.