Foreign currency accounts for Indian residents are regulated under FEMA through updated rules replacing the earlier framework. Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 govern the opening, holding and maintenance of ... Summary
Foreign currency accounts for Indian residents are regulated under FEMA through updated rules replacing the earlier framework.
Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 govern the opening, holding and maintenance of foreign currency accounts by persons resident in India, including limits on amounts held in those accounts. The regulations supersede the earlier framework and take effect upon publication in the Official Gazette.
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