Non interest foreign currency accounts allowed for ship manning and insurance brokers, subject to regulatory directions. An authorised dealer may, subject to directions issued by the Reserve Bank, allow ship manning and crew managing agencies and re insurance and composite insurance brokers registered with the insurance regulator to open and maintain non interest bearing foreign currency accounts in India for the purpose of undertaking transactions in the ordinary course of their business.
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.
Non interest foreign currency accounts allowed for ship manning and insurance brokers, subject to regulatory directions.
An authorised dealer may, subject to directions issued by the Reserve Bank, allow ship manning and crew managing agencies and re insurance and composite insurance brokers registered with the insurance regulator to open and maintain non interest bearing foreign currency accounts in India for the purpose of undertaking transactions in the ordinary course of their business.
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