Acceptance of deposits by an authorised dealer/authorised bank from persons resident outside India

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..... dinary) Account Scheme, (NRO account), specified in Schedule 3, from any person resident outside India; 1 (iv) Omitted 1 (v) Omitted (2) Without prejudice to sub-regulation (1), deposits under NRE, NRO and NRSR Account Schemes referred to in 2 clauses (i) and (iii) of that sub-regulation, may also be accepted by an authorised bank, in accordance with the provisions contained in the respective Schedules. 4 2A Non-resident acquirers may, subject to the terms and conditions specified in Schedule 8, open, hold and maintain Escrow Account and Special Account with Authorised Dealers in India without prior approval of the Reserve Bank, for acquisition/transfer of shares/convertible debentures thr .....

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..... ) Account (NRE Account), after giving notice to the account holder. (b) (i) the existing account in the form of a term deposit of the NRSR Account Scheme may be continued till the date of maturity. (ii) on maturity of the existing term deposit under the NRSR Account Scheme, the maturity proceeds shall be credited to the accountholder's Non-Resident (Ordinary) Account (NRO Account). (iii) existing NRSR account, other than a term deposit, shall not be continued after 30th September 2002 and may at the option of the account holder, be closed or the balance therein credited to his NRO account on or before that date. Explanation : For the purpose of this sub-regulation, existing deposit or .....

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..... by a Person Resident Outside India) Regulations, 2000 ( Notification No. FEMA.20/2000-RB dated 3 rd May 2000 ). ] *********** Notes : 1. Has been Omitted vide Notification No. 052/2002 dated 1/3/2002 2. For the words and figures clauses (i), (iii) and (v) , the words and figures clauses (i) and (iii) has been substituted vide Notification No. Supra 3. Has been added vide Notification No. Supra 4. Has been inserted vide Notification No. G.S.R. 91(E) dated 18/9/2007 and corrected vide notification dated 28.8.2009 5. Inserted vide Notification No. FEMA 243/2012-RB, Dated 19-10-2012 6. Inserted vide Notification No. FEMA 228/2012-RB, Dated 11-4-2012 7. Inserted vide NOTIFICATION No. .....

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