Regulation of NRO account deposits under FEMA ensures authorised banks follow consolidated instructions with renewal clause. Acceptance of deposits into Non-Resident Ordinary Rupee (NRO) Accounts by Authorised Dealer Category I and authorised banks is governed by the Foreign Exchange Management Act and the specified FEMA notification; this Master Circular consolidates prior instructions into a single reference (appendix lists underlying circulars) and includes a one year sunset clause requiring replacement by an updated Master Circular.
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.
Regulation of NRO account deposits under FEMA ensures authorised banks follow consolidated instructions with renewal clause.
Acceptance of deposits into Non-Resident Ordinary Rupee (NRO) Accounts by Authorised Dealer Category I and authorised banks is governed by the Foreign Exchange Management Act and the specified FEMA notification; this Master Circular consolidates prior instructions into a single reference (appendix lists underlying circulars) and includes a one year sunset clause requiring replacement by an updated Master Circular.
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