https://www.taxtmi.com/circulars?id=54187 The Master Direction consolidates FEMA based rules for opening, holding and maintaining foreign currency accounts and deposits, detailing resident account types (EEFC, RFC, RFC(D), Diamond Dollar, project/SEZ and other specialised accounts) with their permitted credits/debits, conversion/repatriation timelines, restrictions on lending against balances, change of status and nominee treatment. It also prescribes regimes for non resident accounts in India (NRE, FCNR(B), NRO, SNRR, Escrow), loan and operation limits, Power of Attorney constraints, tax and reporting obligations, and comprehensive directions governing Rupee Vostro and Special Rupee Vostro accounts including funding, conversion mechanics, prohibited forward INR trades, overdraft limits and periodic reporting requirements to the Reserve Bank. en-us Fri, 01 Jan 2016 00:00:00 +0530 Tue, 14 Oct 2025 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54187 The Master Direction consolidates FEMA based rules for opening, holding and maintaining foreign currency accounts and deposits, detailing resident account types (EEFC, RFC, RFC(D), Diamond Dollar, project/SEZ and other specialised accounts) with their permitted credits/debits, conversion/repatriation timelines, restrictions on lending against balances, change of status and nominee treatment. It also prescribes regimes for non resident accounts in India (NRE, FCNR(B), NRO, SNRR, Escrow), loan and operation limits, Power of Attorney constraints, tax and reporting obligations, and comprehensive directions governing Rupee Vostro and Special Rupee Vostro accounts including funding, conversion mechanics, prohibited forward INR trades, overdraft limits and periodic reporting requirements to the Reserve Bank. Circulars FEMA Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54187