Foreign currency account retention by residents allowed if opened while non-resident or inherited under applicable rules. A person resident in India may maintain a foreign currency account outside India if the account was opened while the person was resident outside India or ... Summary
Foreign currency account retention by residents allowed if opened while non-resident or inherited under applicable rules.
A person resident in India may maintain a foreign currency account outside India if the account was opened while the person was resident outside India or if the account was inherited from a person who was resident outside India, creating a limited retention exception for such offshore accounts under applicable regulatory conditions.
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