https://www.taxtmi.com/circulars?id=8634 AD Category - I banks and SEBI authorised Depository Participants may open and maintain non-interest bearing Escrow accounts in Indian Rupees to hold consideration or securities for FDI transactions without prior Reserve Bank approval, subject to conditions: no credit facilities against balances; permitted credits are foreign inward remittances or rupee consideration from resident acquirers; permitted debits are remittance to beneficiaries or refunds on transaction failure; accounts limited to six months unless RBI permits extension; compliance with FEMA, SEBI regulations and KYC requirements is mandatory. en-us Mon, 02 May 2011 00:00:00 +0530 Tue, 03 May 2011 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8634 AD Category - I banks and SEBI authorised Depository Participants may open and maintain non-interest bearing Escrow accounts in Indian Rupees to hold consideration or securities for FDI transactions without prior Reserve Bank approval, subject to conditions: no credit facilities against balances; permitted credits are foreign inward remittances or rupee consideration from resident acquirers; permitted debits are remittance to beneficiaries or refunds on transaction failure; accounts limited to six months unless RBI permits extension; compliance with FEMA, SEBI regulations and KYC requirements is mandatory. Circulars FEMA Mon, 02 May 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8634