Foreign Currency Accounts: SEZ units allowed to open and maintain accounts with authorised dealers in India. SEZ units are permitted to open, hold and maintain a Foreign Currency Account with an authorised dealer in India under conditions in the amended FEMA regulations; authorised dealers must notify constituents. The circular also deletes the prior special provision for EEFC accounts of SEZ units and issues directions under the Foreign Exchange Management Act.
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Foreign Currency Accounts: SEZ units allowed to open and maintain accounts with authorised dealers in India.
SEZ units are permitted to open, hold and maintain a Foreign Currency Account with an authorised dealer in India under conditions in the amended FEMA regulations; authorised dealers must notify constituents. The circular also deletes the prior special provision for EEFC accounts of SEZ units and issues directions under the Foreign Exchange Management Act.
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