https://www.taxtmi.com/acts?id=2257 The FCNR(B) Scheme allows non-resident Indians to hold term foreign currency deposits with authorised dealers in designated currencies, funded by permitted remittances or transfers from NRE/FCNR accounts. Deposits must be in the designated currency or converted at the remitter's cost; fully covered swaps may be used. Interest, maturities, permissible debits/credits, and loans against deposits follow Reserve Bank directives and NRE-account rules. Repatriation is allowed free of inland exchange, authorised dealers must facilitate transfers between dealers, and transactions are reportable to the Reserve Bank. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 21 Jun 2025 12:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2257 The FCNR(B) Scheme allows non-resident Indians to hold term foreign currency deposits with authorised dealers in designated currencies, funded by permitted remittances or transfers from NRE/FCNR accounts. Deposits must be in the designated currency or converted at the remitter's cost; fully covered swaps may be used. Interest, maturities, permissible debits/credits, and loans against deposits follow Reserve Bank directives and NRE-account rules. Repatriation is allowed free of inland exchange, authorised dealers must facilitate transfers between dealers, and transactions are reportable to the Reserve Bank. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2257