Diplomatic account exemptions permit specified credit/debit rules and unrestricted repatriation under foreign exchange deposit regulations. Exemptions under the Foreign Exchange Management (Deposit) Regulations, 2016 exclude specified rupee and foreign currency accounts from the Regulations. Covered accounts include rupee accounts of diplomatic missions and personnel, special Diplomatic Bond Stores Accounts with prescribed credit/debit rules and repatriation rights, foreign currency accounts for diplomatic staff with restricted credit sources and non-reconversion of converted rupee balances, rupee accounts of residents of Nepal and Bhutan, and accounts of multilateral organisations and their officials, all maintained with authorised dealers.
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Provisions expressly mentioned in the judgment/order text.
Diplomatic account exemptions permit specified credit/debit rules and unrestricted repatriation under foreign exchange deposit regulations.
Exemptions under the Foreign Exchange Management (Deposit) Regulations, 2016 exclude specified rupee and foreign currency accounts from the Regulations. Covered accounts include rupee accounts of diplomatic missions and personnel, special Diplomatic Bond Stores Accounts with prescribed credit/debit rules and repatriation rights, foreign currency accounts for diplomatic staff with restricted credit sources and non-reconversion of converted rupee balances, rupee accounts of residents of Nepal and Bhutan, and accounts of multilateral organisations and their officials, all maintained with authorised dealers.
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