Foreign exchange deposit acceptance: authorised dealers may receive NRE, NRO, FCNR(B), SNRR and escrow deposits under regulatory conditions. Authorised dealers may accept deposits from persons resident outside India through specified non-resident schemes: NRE accounts and FCNR(B) accounts from non-resident Indians, and NRO accounts from any person resident outside India; authorised banks and Regional Rural Banks may also accept such deposits subject to the provisions of the respective Schedules and conditions prescribed by the Reserve Bank. Persons resident outside India with business interests may open and maintain Special Non-Resident Rupee Accounts with authorised dealers or their branches outside India, and resident or non-resident acquirers may open Escrow Accounts subject to Schedule 5.
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 exchange deposit acceptance: authorised dealers may receive NRE, NRO, FCNR(B), SNRR and escrow deposits under regulatory conditions.
Authorised dealers may accept deposits from persons resident outside India through specified non-resident schemes: NRE accounts and FCNR(B) accounts from non-resident Indians, and NRO accounts from any person resident outside India; authorised banks and Regional Rural Banks may also accept such deposits subject to the provisions of the respective Schedules and conditions prescribed by the Reserve Bank. Persons resident outside India with business interests may open and maintain Special Non-Resident Rupee Accounts with authorised dealers or their branches outside India, and resident or non-resident acquirers may open Escrow Accounts subject to Schedule 5.
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