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        FEMA

        Regulation 4 - Opening, Holding and Maintaining Foreign Currency Accounts in India

        Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015
        Chapter 01

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        Foreign Currency Accounts: Resident persons may open designated accounts subject to prescribed eligibility and usage conditions. Regulation 4 authorises residents to open specified foreign currency accounts with authorised dealers-EEFC, RFC, RFC (Domestic), SEZ unit accounts, DDAs and exporter or specialist non interest accounts-each tied to defined sources of foreign exchange and subject to scheme terms, permissible debits for current and permitted capital transactions, interest and balance rules, and Reserve Bank or policy approvals and restrictions such as prohibition on on lending and conditions for account closure where stated.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                      Provisions expressly mentioned in the judgment/order text.

                          Foreign Currency Accounts: Resident persons may open designated accounts subject to prescribed eligibility and usage conditions.

                          Regulation 4 authorises residents to open specified foreign currency accounts with authorised dealers-EEFC, RFC, RFC (Domestic), SEZ unit accounts, DDAs and exporter or specialist non interest accounts-each tied to defined sources of foreign exchange and subject to scheme terms, permissible debits for current and permitted capital transactions, interest and balance rules, and Reserve Bank or policy approvals and restrictions such as prohibition on on lending and conditions for account closure where stated.


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