TMI BlogOpening, holding and maintaining a Foreign Currency Account in India in certain other casesX X X X Extracts X X X X X X X X Extracts X X X X ..... cy Account in India in certain other cases : (1) A shipping or airline company incorporated outside India or its agent in India, may open, hold and maintain a Foreign Currency Account with an authorized dealer in India for meeting the local expenses in India of such airline or shipping company: Provided that the credits to such accounts are only by way of freight or passage ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Place of Business) Regulations, 2000 dated May 3, 2000 , as amended from time to time to open, hold and maintain non-interest bearing 1 [one or more foreign currency accounts] in India for the projects to be executed in India.] 4 [ (4) An Authorized Dealer Category-I Banks in India may allow firms and companies who comply with the eligibility criteria stipulated in the Foreign Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany: Provided that the credits to such accounts are only by way of freight or passage fare collections in India or by inward remittances through normal banking channels from its office outside India and, in the case of agent, from his principal outside India. 2. Inserted vide notification no. 204/2010 RB dated 5-4-2010 , w.e.f. 17.5.2005 3. Substituted vide notification no. 204/2010 R ..... X X X X Extracts X X X X X X X X Extracts X X X X
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