Foreign currency account approval enables authorised dealers to adjust import and export values with Reserve Bank consent. Authorised dealers, with the prior approval of Reserve Bank, may open foreign currency accounts in the name of non residents to adjust the value of goods ... Summary
Foreign currency account approval enables authorised dealers to adjust import and export values with Reserve Bank consent.
Authorised dealers, with the prior approval of Reserve Bank, may open foreign currency accounts in the name of non residents to adjust the value of goods imported into India against exports where a voluntary arrangement exists between the non resident and a resident in India.
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