Foreign-currency insurance business: IIOs may transact in freely convertible currencies other than INR with permitted persons. Regulation 11 requires an IIO to conduct its business in freely convertible foreign currencies other than INR. Such business may be conducted with persons ... Summary
Foreign-currency insurance business: IIOs may transact in freely convertible currencies other than INR with permitted persons.
Regulation 11 requires an IIO to conduct its business in freely convertible foreign currencies other than INR. Such business may be conducted with persons resident in India or otherwise, subject to the Authority's permission regarding the persons with whom the business is permitted.
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