Restrictions on cross-border deposits: general prohibition between residents and non residents, waiver possible by RBI on necessity. Regulation 3 prohibits persons resident in India from accepting deposits from, or making deposits with, persons resident outside India, except where other ... Summary
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Restrictions on cross-border deposits: general prohibition between residents and non residents, waiver possible by RBI on necessity.
Regulation 3 prohibits persons resident in India from accepting deposits from, or making deposits with, persons resident outside India, except where other provisions allow; the Reserve Bank may on application permit such deposits if satisfied that the deposit is necessary.
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