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        FEMA

        Regulation 6 - Types of accounts

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

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        Foreign Currency Account types clarified: individuals may use current, savings or term accounts; others current or term accounts. Foreign Currency Accounts with an authorised dealer may be opened, held and maintained in specified forms: individuals may use current, savings or term deposit accounts; other persons may use current or term deposit accounts. The EEFC account must be maintained in the manner prescribed by the Reserve Bank. Accounts may be held singly or jointly by eligible persons.
                        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 Account types clarified: individuals may use current, savings or term accounts; others current or term accounts.

                              Foreign Currency Accounts with an authorised dealer may be opened, held and maintained in specified forms: individuals may use current, savings or term deposit accounts; other persons may use current or term deposit accounts. The EEFC account must be maintained in the manner prescribed by the Reserve Bank. Accounts may be held singly or jointly by eligible persons.


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