https://www.taxtmi.com/acts?id=20782 A person resident outside India may open a Special Non-Resident Rupee Account with an authorised dealer in India or its branch outside India, including in an IFSC in India, for permissible current and capital account transactions with a person resident in India and bona fide transactions with a person resident outside India. The account must not be used to make foreign exchange available to a person resident in India against reimbursement, must not bear interest, and balances in India are eligible for repatriation. Transactions are subject to Indian taxes, reporting to the Reserve Bank, and prior approval for Pakistan and Bangladesh nationals and entities. en-us Thu, 07 Apr 2016 12:04:24 +0530 Tue, 23 Jun 2026 11:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20782 A person resident outside India may open a Special Non-Resident Rupee Account with an authorised dealer in India or its branch outside India, including in an IFSC in India, for permissible current and capital account transactions with a person resident in India and bona fide transactions with a person resident outside India. The account must not be used to make foreign exchange available to a person resident in India against reimbursement, must not bear interest, and balances in India are eligible for repatriation. Transactions are subject to Indian taxes, reporting to the Reserve Bank, and prior approval for Pakistan and Bangladesh nationals and entities. Act-Rules FEMA Thu, 07 Apr 2016 12:04:24 +0530 https://www.taxtmi.com/acts?id=20782