https://www.taxtmi.com/acts?id=2293 Regulation 5 permits residents to open and maintain a Resident Foreign Currency (RFC) Account for foreign exchange received from specified sources - pension and other employer benefits received abroad, realised repatriated assets, gifts or inheritance from qualifying persons, certain receipts under the Act, and life insurance proceeds paid in foreign currency by authorised Indian insurers - and provides that funds in the RFC Account are free from restrictions on utilisation including investment outside India; resident close relatives may be joint holders on a former-or-survivor basis but may not operate the account during the primary holder's lifetime. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 25 Jun 2025 16:10:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2293 Regulation 5 permits residents to open and maintain a Resident Foreign Currency (RFC) Account for foreign exchange received from specified sources - pension and other employer benefits received abroad, realised repatriated assets, gifts or inheritance from qualifying persons, certain receipts under the Act, and life insurance proceeds paid in foreign currency by authorised Indian insurers - and provides that funds in the RFC Account are free from restrictions on utilisation including investment outside India; resident close relatives may be joint holders on a former-or-survivor basis but may not operate the account during the primary holder's lifetime. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2293