Foreign Currency (Non-Resident) Account (Banks) (FCNR (B)) Scheme

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..... s invited to Schedule 2 of the Foreign Exchange Management (Deposit) Regulations, 2000 , notified vide Notification No. FEMA 5/2000-RB dated May 3, 2000, as amended from time to time, in terms of which instructions regarding opening and maintenance of FCNR (B) deposit have been stipulated. 2. It has come to our notice that Authorised Dealer banks are insisting on different requirements at .....

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..... 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 is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (A. K. Pandey) Chief General Manager - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Ma .....

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