Opening, holding and maintaining a Resident Foreign Currency (Domestic) Account

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..... estic) Account (1) 3 A resident Individual may open, hold and maintain with an Authorised Dealer in India a foreign currency account, to be known as Resident Foreign Currency (Domestic) Account, out of foreign exchange acquired in the form of currency notes, bank notes and travellers cheques : (a) while on a visit to any place outside India by way of payment for services not arising from any busin .....

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..... held by him to ADRs / DGRs under the Sponsored ADR / GDR Scheme approved by the Foreign Investment Promotion Board of Government of India. 4 (h) by way of earnings received as the proceeds of life insurance policy claims/maturity/surrender values settled in foreign currency from an insurance company in India permitted to undertake life insurance business by the Insurance Regulatory and Developmen .....

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