Inward remittance rules: normal banking channel credits permitted to resident foreign currency accounts, with specified exclusions. Amendment permits inward remittance through normal banking channel as qualifying credit to foreign currency accounts of persons resident in India, effective on Gazette publication, and substitutes paragraph 1(1)(i) of the Schedule to Regulation 4 to exclude remittances pursuant to undertakings to the Reserve Bank, foreign currency loans or investments from outside India, and receipts for meeting specific obligations of the account holder.
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Provisions expressly mentioned in the judgment/order text.
Inward remittance rules: normal banking channel credits permitted to resident foreign currency accounts, with specified exclusions.
Amendment permits inward remittance through normal banking channel as qualifying credit to foreign currency accounts of persons resident in India, effective on Gazette publication, and substitutes paragraph 1(1)(i) of the Schedule to Regulation 4 to exclude remittances pursuant to undertakings to the Reserve Bank, foreign currency loans or investments from outside India, and receipts for meeting specific obligations of the account holder.
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