MANU/RFEM/0006/2016
Ministry : Reserve Bank of India
Department/Board : Foreign Exchange Department
Notification No. : FEMA-10(R)/2015-RB
Notification No. : GSR96(E)
Date of Notification : 21.01.2016
Date of Publication : 21.01.2016
Notification/ Circulars Referred : Notification No. FEMA 10/2000- RB dated May 3, 2000 MANU/RFEM/0002/2000
Subject: Banking
Citing Reference:
Notification No. FEMA 10/2000- RB dated May 3, 2000 MANU/RFEM/0002/2000 Superceded
Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015
G.S.R.96(E).--In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 10/2000- RB dated May 3, 2000, as amended from time to time, the Reserve Bank of India makes the following regulations for opening, holding and maintaining of Foreign Currency Accounts and the limits up to which amounts can be held in such accounts by a person resident in India, namely:
1. Short title and commencement.-
i) These Regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015.
ii) They shall come into force from the date of their publication in the Official Gazette.
2. Definitions.-
In these Regulations, unless the context otherwise requires, -
i) 'Act' means the Foreign Exchange Management Act, 1999 (42 of 1999);