Kerala High Court: ED Can Investigate Without FIR in Scheduled Offence Cases (CMRL Matter)  ||  Delhi High Court Upholds TRAI Rule Capping TV Advertisements at 12 Minutes Per Hour  ||  Supreme Court Directs High Courts to Deliver Judgments in 3 Months and Bail Orders in One Day  ||  Supreme Court: Successful Resolution Applicant Cannot Negotiate Further After CoC Approval  ||  Supreme Court: Succession Law Applies, Not Primogeniture, to Ex-Royal’s Private Estate Inheritance  ||  Supreme Court: Writ Jurisdiction Cannot Challenge Arbitrator’s Section 16 Decision  ||  Supreme Court: Sanyasi Status Cannot Be Ground to Reject Land Compensation Claim  ||  Supreme Court: Section 33(1)(a) of Arbitration Act Cannot Alter Nature of Interest in Award  ||  Supreme Court: Society Office Bearers Not Liable for Cheque Dishonour Without Active Business Role  ||  Supreme Court: Asking a Woman to Adjust in Marriage Does Not Amount to Cruelty By In-Laws    

Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2019- (Reserve Bank of India) (27 Feb 2019)

MANU/RFEM/0004/2019

Banking

In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 [Notification No. FEMA 10(R)/2015-RB dated January 21, 2016], namely:-

1. Short Title and Commencement.-

(i) These regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2019.

(ii) They shall come into force from the date of their publication in the Official Gazette.

2. Amendment to Regulation 4.-

In Regulation 4, the existing sub-regulation (G)(2), shall be substituted as follows:-

"(2) An authorized dealer in India may, subject to the directions as may be issued by the Reserve Bank, allow ship-manning / crew managing agencies in India and re-insurance and composite insurance brokers registered with IRDA to open and maintain non-interest bearing foreign currency accounts in India for the purpose of undertaking transactions in the ordinary course of their business."

Tags : FOREIGN CURRENCY   AMENDMENT   REGULATIONS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved