Permitted currency definition clarifies freely convertible foreign currency status and roles of authorised dealers and authorised banks. Definitions designate key terms: Act means the Foreign Exchange Management Act, 1999; authorised dealer means a person authorised under Section 10; authorised bank means a bank authorised to accept deposits from persons resident outside India; FCNR/NRE account means an FCNR or NRE account under the Deposits Regulations; Permitted currency means a freely convertible foreign currency; undefined terms import meanings from the Act.
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.
Permitted currency definition clarifies freely convertible foreign currency status and roles of authorised dealers and authorised banks.
Definitions designate key terms: Act means the Foreign Exchange Management Act, 1999; authorised dealer means a person authorised under Section 10; authorised bank means a bank authorised to accept deposits from persons resident outside India; FCNR/NRE account means an FCNR or NRE account under the Deposits Regulations; Permitted currency means a freely convertible foreign currency; undefined terms import meanings from the Act.
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