RBI Allows Non-Residents to Open Interest-Bearing Accounts in INR or Foreign Currency, Boosting India's Market Appeal.

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....The Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024, issued by the RBI, introduces a new provision to Regulation 7 - This new provision allows authorised dealers in India to enable non-resident individuals to open and maintain interest-bearing accounts in Indian Rupees or foreign currency. - It facilitates smoother financial operations for non-residents engaged in derivatives markets in India, potentially enhancing the attractiveness of India's financial markets for international investors.....