https://www.taxtmi.com/circulars?id=2046 Resident beneficiaries receiving insurance claim, maturity or surrender proceeds in foreign currency may open and credit those proceeds to a Resident Foreign Currency (RFC) (Domestic) Account. Non-Resident Indian policy holders may, on becoming residents, credit foreign-currency proceeds from India-issued policies to the RFC Account they open on becoming residents. Authorised Dealers must inform their constituents. Directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act. en-us Mon, 15 Dec 2003 00:00:00 +0530 Sat, 04 Oct 2008 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2046 Resident beneficiaries receiving insurance claim, maturity or surrender proceeds in foreign currency may open and credit those proceeds to a Resident Foreign Currency (RFC) (Domestic) Account. Non-Resident Indian policy holders may, on becoming residents, credit foreign-currency proceeds from India-issued policies to the RFC Account they open on becoming residents. Authorised Dealers must inform their constituents. Directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act. Circulars FEMA Mon, 15 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2046