Savings Bank account maintained by residents in India –Joint holder - liberalisation.

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Full Text of the Document

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.... is invited to Regulation 2(vi) of FEMA Notification No. 5 dated May 3, 2000 in terms of which Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India or is a person of Indian origin. 2. The Committee to Review the Facilities for Individuals under the Foreign Exchange Management Act, 1999 has recommended in its Report that resident individuals may be permitted to....