Foreign currency account definitions clarify excluded currencies, authorised dealers, IFSC meaning, and incorporation of undefined FEMA expressions. Foreign Currency Accounts by persons resident in India are accounts held or maintained in a currency other than the currencies of India, Nepal or Bhutan. ... Summary
Foreign currency account definitions clarify excluded currencies, authorised dealers, IFSC meaning, and incorporation of undefined FEMA expressions.
Foreign Currency Accounts by persons resident in India are accounts held or maintained in a currency other than the currencies of India, Nepal or Bhutan. Authorised dealer means a person authorised under the Foreign Exchange Management Act, 1999. IFSC carries the meaning assigned under the International Financial Services Centres Authority Act, 2019, and undefined expressions carry their meanings under the Foreign Exchange Management Act, 1999.
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