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Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015

FEMA - 77 [(2)/10(R)] - Dated:- 23-6-2016 - RBI/2015-16/430 A.P. (DIR Series) Circular No. 77 [(2)/10(R)] June 23, 2016 To All Category - I Authorised Dealers and Authorised Banks Madam / Sir, Attention of Authorised Dealers Banks is invited to the , .....

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it has been decided that an Indian startup, having an overseas subsidiary, may open a foreign currency account with a bank outside India for the purpose of crediting to the account the foreign exchange earnings out of exports/sales made by the said .....

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Goods and Services) Regulations, 2015 dated January 12, 2016, as amended from time to time. 3. In addition, payments received in foreign exchange by an Indian startup arising out of sales/ export made by the startup or its overseas subsidiaries will .....

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ssued by Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India. 5. Further, the existing facility of opening foreign currency account outside India, available to the Life Insurance Corporation of India .....

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ed with the Insurance Regulatory and Development Authority of India (IRDA) may open a foreign currency account with a bank outside India to carry out insurance/ reinsurance business. 6. AD Category - I banks may bring the contents of this circular to .....

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