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

Regulation 5 - FEMA - Regulation 5 - 5. :- 1) An authorised dealer in India may accept deposit i) under the Non-Resident (External) Account Scheme (NRE account), specified in Schedule 1, from a nonresident Indian; ii) under the Foreign Currency (Non-Resident) Account Banks Scheme, (FCNR(B) account), specified in Schedule 2, from a non-resident Indian; iii) under the Non-Resident (Ordinary) Account Scheme, (NRO account), specified in Schedule 3, from any person resident outside India; 2) Without .....

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