Foreign currency accounts: regulations set framework for opening, holding and limits for residents' foreign currency balances. Regulations prescribe the framework for opening, holding and maintaining foreign currency accounts by persons resident in India, authorising the central monetary authority under the Foreign Exchange Management Act to specify permissible account types, operational conditions and ceilings on amounts that residents may hold in such accounts.
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.
Foreign currency accounts: regulations set framework for opening, holding and limits for residents' foreign currency balances.
Regulations prescribe the framework for opening, holding and maintaining foreign currency accounts by persons resident in India, authorising the central monetary authority under the Foreign Exchange Management Act to specify permissible account types, operational conditions and ceilings on amounts that residents may hold in such accounts.
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