https://www.taxtmi.com/acts?id=20367 Persons resident in India cannot open, hold or maintain foreign currency accounts except where permitted under the Foreign Exchange Management Act, applicable rules or regulations. Foreign currency accounts held before commencement with the Reserve Bank's special or general permission are treated as validly held. The Reserve Bank may permit a resident person, on application, to open, hold or maintain such an account subject to necessary terms and conditions. en-us Mon, 08 Feb 2016 10:32:42 +0530 Wed, 09 Sep 2026 13:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20367 Persons resident in India cannot open, hold or maintain foreign currency accounts except where permitted under the Foreign Exchange Management Act, applicable rules or regulations. Foreign currency accounts held before commencement with the Reserve Bank's special or general permission are treated as validly held. The Reserve Bank may permit a resident person, on application, to open, hold or maintain such an account subject to necessary terms and conditions. Act-Rules FEMA Mon, 08 Feb 2016 10:32:42 +0530 https://www.taxtmi.com/acts?id=20367