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        FEMA

        Regulation 9 - Acceptance of Deposits by Authorised Dealer with the Prior Approval of Reserve Bank

        Foreign Exchange Management (Deposit) Regulations, 2000

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        Foreign currency account approval enables authorised dealers to adjust import and export values with Reserve Bank consent. Authorised dealers, with the prior approval of Reserve Bank, may open foreign currency accounts in the name of non residents to adjust the value of goods imported into India against exports where a voluntary arrangement exists between the non resident and a resident in India.
                          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 approval enables authorised dealers to adjust import and export values with Reserve Bank consent.

                                Authorised dealers, with the prior approval of Reserve Bank, may open foreign currency accounts in the name of non residents to adjust the value of goods imported into India against exports where a voluntary arrangement exists between the non resident and a resident in India.


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