Foreign currency account limit removed; amendment deletes prior cap allowing broader foreign currency holdings under FEMA regulations. Amendment deletes the monetary ceiling previously specified in sub paragraph (iv) of paragraph 3 of the Schedule to the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 by removing the words imposing a limit; the amendment is titled accordingly and comes into force on publication in the Official Gazette under powers conferred by the Foreign Exchange Management Act.
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Foreign currency account limit removed; amendment deletes prior cap allowing broader foreign currency holdings under FEMA regulations.
Amendment deletes the monetary ceiling previously specified in sub paragraph (iv) of paragraph 3 of the Schedule to the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 by removing the words imposing a limit; the amendment is titled accordingly and comes into force on publication in the Official Gazette under powers conferred by the Foreign Exchange Management Act.
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