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of <h1>RBI Amends 2016 Forex Rules: Non-Interest Foreign Accounts, NRO Accounts for Minorities, SNRR Tenure, Escrow Terms Updated.</h1> The Foreign Exchange Management (Deposit) (Amendment) Regulations, 2018, issued by the Reserve Bank of India, amends the 2016 regulations. Key changes include allowing authorized dealers to facilitate non-interest bearing foreign currency accounts for registered foreign investors, and permitting minority citizens from Bangladesh and Pakistan residing in India to open a single NRO account. Amendments also address the tenure of SNRR accounts and the terms for opening escrow accounts, specifying conditions for acquisition and transfer of capital instruments. These regulations became effective upon their publication in the Official Gazette on November 9, 2018.
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