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of <h1>Foreign Currency Account Rules: Clear Guidelines for Indian Entities on Opening, Maintaining, and Managing Forex Transactions Under FEMA</h1> The regulation details provisions for opening and maintaining foreign currency accounts in India by various entities. It covers different types of accounts including Exchange Earners' Foreign Currency (EEFC) Accounts, Resident Foreign Currency (RFC) Accounts, and accounts for specific entities like Special Economic Zone units, exporters, shipping companies, and project offices. The regulation specifies conditions for account opening, fund sources, usage restrictions, and permissible transactions under the Foreign Exchange Management Act (FEMA).
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