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FEMA - Highlights / Catch Notes

Home Highlights May 2024 Year 2024 This

The Foreign Exchange Management (Deposit) (Fourth Amendment) ...

Notifications     FEMA

May 9, 2024

The Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024, issued by the RBI, introduces a new provision to Regulation 7 - This new provision allows authorised dealers in India to enable non-resident individuals to open and maintain interest-bearing accounts in Indian Rupees or foreign currency. - It facilitates smoother financial operations for non-residents engaged in derivatives markets in India, potentially enhancing the attractiveness of India's financial markets for international investors.

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