Resident Foreign Currency (Domestic) Account - Facility for Resident Individuals

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....rency (Domestic) Account - Facility for Resident Individuals Authorised Dealers are aware that in terms of Regulation 3(iii) of RBI Notification No.FEMA.11/ 2000-RB dated 3rd May, 2000, residents are allowed to retain up to US$ 2000 or its equivalent in aggregate, provided that such foreign exchange in the form of currency notes, bank notes and travellers cheques : a. was acquired by him whi....

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....ut of foreign exchange acquired in the form of currency notes, bank notes and travellers cheques from the sources specified at items (a) to (d) above. Debits to the account shall be for payment towards current/capital account transactions in accordance with the existing foreign exchange regulations. The account will be maintained in the form of current account and shall not bear any interest. Cheq....