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Foreign Exchange Management (Foreign Currency Accounts by a person resident in India)(Amendment) Regulations, 2016

FEMA - 10(R)/(1)/2016-RB - Dated:- 1-6-2016 - RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION No. FEMA10(R)/(1)/2016-RB Mumbai, the 1st June, 2016 Foreign Exchange Management (Foreign Currency Accounts by a person re .....

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the following amendments in the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 [Notification No. FEMA 10(R)/2015-RB dated January 21, 2016], namely: 1. Short Title and Commencement:- (i) These .....

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egulation 5 A. The existing sub-regulation (E) shall be re-numbered as (F). B. In the re-numbered regulation (F), the existing sub-regulation (3) shall be substituted by the following namely: Insurance/reinsurance companies registered with Insurance .....

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einsurance business carried on by them and for that purpose, credit to such account the insurance/reinsurance premia received by them outside India. C. After the existing sub-regulation (D), the following shall be inserted namely:- (E) Accounts in re .....

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f crediting to it foreign exchange earnings out of exports/ sales made by the said entity and/ or the receivables, arising out of exports/ sales, of its overseas subsidiary. Provided that the balances in the account shall be repatriated to India with .....

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tartup means an entity which complies with the conditions laid down in Notification No. G.S.R 180(E) dated February 17, 2016 issued by Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India. 3. Amendment .....

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