SEBI-registered foreign investors can open non-interest bearing foreign currency accounts in India under Non-Debt Instrument Rules, 2019.
A Foreign Portfolio Investor or a Foreign Venture Capital Investor, registered with the Securities and Exchange Board of India (SEBI), is permitted to open and maintain a non-interest bearing foreign currency account in India. This is allowed for the purpose of making investments in compliance with the Foreign Exchange Management (Non-Debt Instrument) Rules, 2019.
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