TMI BlogResident Foreign Currency (Domestic) Account - Facility for Resident IndividualsX X X X Extracts X X X X X X X X Extracts X X X X ..... ount - Facility for Resident Individuals Attention of authorised dealers is invited to A.P. (DIR Series) Circular No.37 dated November 1, 2002 in terms of which, pending publication of the Notification by the Government, they are required to forward the request received by them for opening of Resident Foreign Currency (Domestic) Accounts to Regional Office of the Reserve Bank with their recomme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... / 2000-RB dated May 3, 2000 as indicated in Notification No.FEMA.74/2002-RB dated November 1, 2002. 5. Authorised dealers may bring the contents of the circular to the notice of their constituents concerned. 6. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Fifth Amendment) Regulations, 2002. They shall come into force on their publication in the Official Gazette. 2. Amendment of the Regulations In the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, after Regulation 5 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a; or represents the unspent amount of foreign exchange acquired by him from an authorised person for travel abroad. (2) Debits to the account shall be for payments towards a current account transaction in accordance with the provisions of the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and towards a capital account transaction permissible under the Foreign Exchange ..... X X X X Extracts X X X X X X X X Extracts X X X X
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