Resident foreign currency accounts exempted from prior circular; authorised dealer banks must notify customers under FEMA authority. Provisions of Circular No. 124 dated May 10, 2012 will not apply to Resident Foreign Currency Accounts held as EEFC Accounts. Authorised Dealer Category I banks must inform their constituents and customers of this clarification. The instruction is issued under FEMA authority and is without prejudice to other statutory permissions or approvals.
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.
Resident foreign currency accounts exempted from prior circular; authorised dealer banks must notify customers under FEMA authority.
Provisions of Circular No. 124 dated May 10, 2012 will not apply to Resident Foreign Currency Accounts held as EEFC Accounts. Authorised Dealer Category I banks must inform their constituents and customers of this clarification. The instruction is issued under FEMA authority and is without prejudice to other statutory permissions or approvals.
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