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Non-resident Rupee Accounts – Review of Policy - FEMA - 09

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..... osits and Accounts”, as amended from time to time, any person resident outside India, having a business interest in India, may open a Special Non-Resident Rupee Account (SNRR account) with an authorised dealer for the purpose of putting through bona fide transactions in rupees. 3. With a view to promote the usage of INR products by persons resident outside India, it has been decided, in consultation with the Government of India, to expand the scope of SNRR Account by permitting person resi .....

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Non-resident Rupee Accounts – Review of Policy - FEMA

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..... emittance outside India through normal banking channels. 5. All other provisions of the policy on Deposits and Accounts remain unchanged. AD Category - I banks should bring the contents of this circular to the notice of their constituents and customers. 6. The aforesaid Master Direction No. 14 dated January 01, 2016 is being updated to reflect the changes. 7. The directions contained in this circular have been issued under section 10(4) and 11(2) of the Foreign Exchange Management Act, 1999 (42 .....

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