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of <h1>RBI's 2008 Circular on NRO Accounts for Non-Residents: Key Guidelines Under FEMA 1999, Valid Until July 1, 2009.</h1> The Master Circular on Non-Resident Ordinary Rupee (NRO) Account, issued by the Reserve Bank of India (RBI) on July 1, 2008, consolidates existing instructions regarding the acceptance of deposits by authorized banks from non-residents. These regulations are governed by the Foreign Exchange Management Act, 1999, and related notifications. The circular compiles all relevant guidelines and notifications into one document, with a validity period of one year, expiring on July 1, 2009. After this date, it will be replaced by an updated circular.
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