What are the pre-conditions for the FCNR (B) deposits mobilised by a bank for being eligible to be swapped with RBI under the swap window? https://www.taxtmi.com/manuals?id=6433 Only fresh FCNR(B) deposits mobilised after the announced cutoff are eligible for swap: they must be in permitted currencies, have a minimum three year maturity and a one year lock in; other FCNR(B) deposits, though permissible, do not qualify. Banks must maintain separate ledgers and an auditable transaction trail to distinguish swap-eligible deposits from other FCNR(B) mobilisations. en-us Fri, 13 Dec 2024 14:54:00 +0530 Fri, 13 Dec 2024 14:54:00 +0530 TaxTMI RSS Generator What are the pre-conditions for the FCNR (B) deposits mobilised by a bank for being eligible to be swapped with RBI under the swap window? https://www.taxtmi.com/manuals?id=6433 Only fresh FCNR(B) deposits mobilised after the announced cutoff are eligible for swap: they must be in permitted currencies, have a minimum three year maturity and a one year lock in; other FCNR(B) deposits, though permissible, do not qualify. Banks must maintain separate ledgers and an auditable transaction trail to distinguish swap-eligible deposits from other FCNR(B) mobilisations. Manuals FEMA Fri, 13 Dec 2024 14:54:00 +0530 https://www.taxtmi.com/manuals?id=6433