Project Offices — Foreign Currency Accounts in India

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.... (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000, notified vide Notification No. FEMA 22/2000-RB dated May 3, 2000, Foreign Exchange Management (Remittance of Assets) Regulations, 2000, notified vide Notification No. FEMA 13/2000-RB dated May 3, 2000, as amended from time to time and A.P. (DIR Series) Circular No. 44 dated May 17, 2005. 2. At present, fo....

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....foreign currency accounts are maintained with the same AD Category - I bank. The other conditions mentioned in the abovementioned circular shall continue. 3. The above instructions shall come into force with immediate effect. 4. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 5. Necessary amendments to Foreign Exchange M....