https://www.taxtmi.com/acts?id=20773 Restrictions prohibit a person resident in India from accepting deposits from, or making deposits with, a person resident outside India, save as otherwise provided by the Act, Regulations or subordinate instruments. The Reserve Bank may, on an application and on being satisfied that it is necessary, allow such deposits, creating a discretionary permission contingent on the Bank's satisfaction of necessity. en-us Thu, 07 Apr 2016 12:00:12 +0530 Mon, 16 Jun 2025 17:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20773 Restrictions prohibit a person resident in India from accepting deposits from, or making deposits with, a person resident outside India, save as otherwise provided by the Act, Regulations or subordinate instruments. The Reserve Bank may, on an application and on being satisfied that it is necessary, allow such deposits, creating a discretionary permission contingent on the Bank's satisfaction of necessity. Act-Rules FEMA Thu, 07 Apr 2016 12:00:12 +0530 https://www.taxtmi.com/acts?id=20773