Interest on Special Non Resident Rupee Accounts is not payable; balances and term deposits do not earn interest. Balances in Special Non Resident Rupee Accounts do not earn interest and converting those balances into term deposits is not a permitted means to obtain interest; holders should not expect interest income from SNRR account balances or related term deposits under the applicable foreign exchange framework.
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.
Interest on Special Non Resident Rupee Accounts is not payable; balances and term deposits do not earn interest.
Balances in Special Non Resident Rupee Accounts do not earn interest and converting those balances into term deposits is not a permitted means to obtain interest; holders should not expect interest income from SNRR account balances or related term deposits under the applicable foreign exchange framework.
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