Foreign currency deposit crystallisation converts inoperative account credit balances into Indian Rupees under defined banking authorisations. Regulation 2 defines crystallisation as conversion of credit balances in an inoperative foreign-currency deposit into Indian Rupees. A deposit includes ... Summary
Foreign currency deposit crystallisation converts inoperative account credit balances into Indian Rupees under defined banking authorisations.
Regulation 2 defines crystallisation as conversion of credit balances in an inoperative foreign-currency deposit into Indian Rupees. A deposit includes account balances or money placed with an Authorised Bank. An Authorised Bank includes a bank or co-operative bank authorised to maintain accounts of persons resident outside India, excluding an authorised dealer. An Authorised Dealer is a person authorised under the Foreign Exchange Management Act, 1999.
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