Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Date: 11-04-2019
Notification No: A.P. (DIR Series) Circular No.29
Issuing Authority: RBI  
Type: A.P.D.(Series) Circulars
File No: RBI/2018-19/167
Subject: Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 - Opening of Foreign Currency Accounts by Re-insurance and Composite Insurance brokers

RBI/2018-19/167
A.P. (DIR Series) Circular No.29

April 11, 2019

To
All Category - I Authorised Dealers and Authorised Banks
Madam/Sir

Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 - Opening of Foreign Currency Accounts by Re-insurance and Composite Insurance brokers

Attention of Authorised Dealers (ADs) is invited to the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015, notified vide Notification No. FEMA 10(R)/2015-RB dated January 21, 2016, as amended from time to time and the relevant directions issued thereunder.

2. The extant Regulations regarding opening of foreign currency accounts in India by persons resident in India have since been reviewed in consultation with the Government of India. As notified vide Notification No. FEMA 10(R)(2)/2019-RB dated February 27, 2019, re-insurance and composite insurance brokers registered with IRDA may open and maintain non-interest bearing foreign currency accounts with an AD bank in India for the purpose of undertaking transactions in the ordinary course of their business.

3. AD Category – I banks may bring the contents of this circular to the notice of their constituents and customers concerned.

4. The Master Direction No. 14 on Deposits and Accounts, dated January 1, 2016 is being updated simultaneously to reflect the changes.

5. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully

(R. K. Moolchandani)
Chief General Manager

       

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 28-04-2025
Notification No. 24/2025-Customs
Seeks to amend List 34A and 34B of the Notification No. 50/2017-Customs dated 30.06.2017

Date: 23-04-2025
Notification No. 28/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 17-04-2025
Notification No. 26/2025 – Customs (N.T.)
Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of rate of duty drawback of Gold jewellery and silver jewellery/articles

Date: 15-04-2025
Notification No. 24/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 08-04-2025
Notification No. 23/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 04-04-2025
NOTIFICATION No. 23/2025-Customs
Seeks to amend entry 515C of notification 50/2017-Customs

Date: 28-03-2025
Notification No. 17/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 27-03-2025
NOTIFICATION No. 11/2025–Central Tax
Seeks to notify Central Goods and Services Tax (Second Amendment) Rules 2025

Date: 13-03-2025
Notification No. 13/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 13-03-2025
Notification No. 10/2025 – Central Tax
Seeks to amend notification No. 02/2017-Central Tax.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001