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        FEMA

        Regulation 7 - Acceptance of Deposits by Persons other than Authorised dealer/ Authorised Bank

        Foreign Exchange Management (Deposit) Regulations, 2000

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        Acceptance of deposits from non-resident Indians restricted: repatriation deposits prohibited for companies; renewals and non-repatriation allowed. Companies and statutory bodies are prohibited from accepting deposits from non-resident Indians on a repatriation basis; renewals of repatriation deposits are permitted only under Schedule 6 conditions. Indian companies, bodies corporate, proprietary concerns and firms may accept deposits from non-resident Indians on a non-repatriation basis subject to Schedule 7 conditions.
                      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.

                          Acceptance of deposits from non-resident Indians restricted: repatriation deposits prohibited for companies; renewals and non-repatriation allowed.

                          Companies and statutory bodies are prohibited from accepting deposits from non-resident Indians on a repatriation basis; renewals of repatriation deposits are permitted only under Schedule 6 conditions. Indian companies, bodies corporate, proprietary concerns and firms may accept deposits from non-resident Indians on a non-repatriation basis subject to Schedule 7 conditions.


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