https://www.taxtmi.com/notifications?id=116740 Regulations require authorised banks to convert inoperative foreign currency denominated deposit balances into Indian Rupees when specified inoperative periods expire, applying the exchange rate prevailing on the date of conversion. For fixed maturity deposits the conversion occurs at the end of the post maturity inoperative period; for no maturity deposits banks must give a prior notice and convert at the end of the notice period. After conversion the depositor may claim either the Indian Rupee proceeds and interest or the foreign currency equivalent of those Rupee proceeds calculated at the rate prevailing on the date of payment. en-us Fri, 21 Mar 2014 00:00:00 +0530 Thu, 17 Apr 2014 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=116740 Regulations require authorised banks to convert inoperative foreign currency denominated deposit balances into Indian Rupees when specified inoperative periods expire, applying the exchange rate prevailing on the date of conversion. For fixed maturity deposits the conversion occurs at the end of the post maturity inoperative period; for no maturity deposits banks must give a prior notice and convert at the end of the notice period. After conversion the depositor may claim either the Indian Rupee proceeds and interest or the foreign currency equivalent of those Rupee proceeds calculated at the rate prevailing on the date of payment. Notifications FEMA Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/notifications?id=116740