Foreign Exchange Management (Deposit) Regulations, 2000 - Acceptance of Deposits - Revised Guidelines

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....(Deposit) Regulations, 2000 - Acceptance of Deposits - Revised Guidelines In terms of Regulation 7 (1) and (2) of the Foreign Exchange Management (Deposit) Regulations, 2000, (issued vide Notification No. FEMA 5/2000-RB dated May 3, 2000) persons other than Authorised Dealers/Authorised Banks are permitted to accept deposits from Non-Resident Indians (NRIs). This includes a company registered und....

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.... amount deposited with such entities does not represent inward remittances or transfer from NRE/FCNR(B) Accounts into the NRO account . 3. Deposits by NRIs with persons other than Authorised Dealers/Authorised Banks out of inward remittances from overseas or by debit to NRE/FCNR (B) Accounts shall henceforth not be permissible. 4. All persons other than Authorised Dealers/Authorised Banks may c....