Opening, holding and maintaining a Resident Foreign Currency (Domestic) Account

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..... omestic) Account (1) 3 A resident Individual may open, hold and maintain with an Authorised Dealer in India a foreign currency account, to be known as Resident Foreign Currency (Domestic) Account, out of foreign exchange acquired in the form of currency notes, bank notes and travellers cheques : (a) while on a visit to any place outside India by way of payment for service .....

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..... er lawful means; 2 (g) representing the disinvestment proceeds received by the resident account-holder on conversion of shares held by him to ADRs / DGRs under the Sponsored ADR / GDR Scheme approved by the Foreign Investment Promotion Board of Government of India. 4 (h) by way of earnings received as the proceeds of life insurance policy claims/maturity/surrender .....

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..... o. 074/2002 dated 1/11/2002 2. Has been added vide Notification No. 090/2003 dated 23/5/2003 3. Words, 'A person resident in India' has been substituted by the words 'A resident Individual' vide Notification No. 109/2004 dated 1/1/2004 4. Has been inserted vide Notification No. Supra - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Reg .....

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