India Updates Rules for Foreign Currency Accounts, Impacting ECB, ADR, GDR, and International Equity Listings.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2024. - Notification revises the provisions of regulation 5 related to the holding of funds in foreign currency accounts by entities that have raised resources through External Commercial Borrowings (ECB), American Depository Receipts (ADRs), Global Depository Receipts (GDRs), or direct listings of equity shares on international exchanges.....