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RBI amends FEMA regulations in order to insert provisions related to SNRR account

November 16, 2019
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The Reserve Bank of India has amended the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 and the Foreign Exchange Management (Deposit) Regulations, 2016 in order to insert provisions related to Special Non- Resident Rupee Account. Now, any person resident outside India, having a business interest in India, may open SNRR account with an authorised dealer.
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