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        FEMA

        Regulation 9 - Types of Accounts

        Foreign Exchange Management (Foreign Currency Accounts By A Person Resident In India) Regulations, 2000

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        Foreign currency account types permit current, savings or term deposit forms for residents, with EEFC accounts subject to RBI directions. Foreign Currency Accounts may be opened, held and maintained with an authorised dealer in specified forms: individuals in current, savings or term deposit form; other eligible persons in current or term deposit form; and singly or jointly in the name of eligible persons. The EEFC account referenced in Regulation 4 must be opened, held or maintained in the form prescribed by directions of the Reserve Bank.
                        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 permit current, savings or term deposit forms for residents, with EEFC accounts subject to RBI directions.

                              Foreign Currency Accounts may be opened, held and maintained with an authorised dealer in specified forms: individuals in current, savings or term deposit form; other eligible persons in current or term deposit form; and singly or jointly in the name of eligible persons. The EEFC account referenced in Regulation 4 must be opened, held or maintained in the form prescribed by directions of the Reserve Bank.


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