RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S2

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

79155276

Foreign Exchange Management (Deposit) Regulations, 2000 - Exemption thereof

RBI/2014-15/360
A.P. (DIR Series) Circular No.51

December 17, 2014

To

All Category - I Authorised Dealer Banks

Madam / Sir,

Foreign Exchange Management (Deposit) Regulations, 2000
- Exemption thereof

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Regulation 4(5) 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 nothing contained in the regulations applies to the deposits held in accounts maintained with an authorised dealer by the United Nations Organisation and its subsidiary/affiliate bodies in India, and its or their officials in India.

2. It has been observed that Authorised Dealer banks are frequently coming across cases related to opening of accounts for multilateral organisations, of which India is a member nation.

3. With the objective of bringing all the multilateral organisations at par, for opening of accounts in India, the extant instructions have been reviewed and it has been decided to include in the exemptions, laid down in Foreign Exchange Management (Deposit) Regulation, 2000, issued vide Notification No. FEMA 5/2000-RB dated May 3, 2000 (as amended from time to time), deposits held in accounts maintained with an authorised dealer by any multilateral organization of which India is a member nation, and its subsidiary/affiliate bodies in India, and its or their officials in India.

4. Accordingly, it is hereby informed that Reserve Bank has since amended the Principal Regulations through the Foreign Exchange Management (Deposit) (Amendment) Regulations, 2014 notified vide Notification No. FEMA. 327/2014-RB dated November 24, 2014 c.f. G.S.R. No. 879(E) dated December 9, 2014.

5. AD Category- I banks may bring the contents of the circular to the notice of their constituents concerned.

6. 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,

(C D Srinivasan)
Chief General Manager

RbiTtsCommonUtility

प्ले हो रहा है
ଶୁଣନ୍ତୁ

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

ରିଜର୍ଭ ବ୍ୟାଙ୍କ ଅଫ୍ ଇଣ୍ଡିଆ ମୋବାଇଲ୍ ଆପ୍ଲିକେସନ୍ ଇନଷ୍ଟଲ୍ କରନ୍ତୁ ଏବଂ ଲାଟେଷ୍ଟ ନିଉଜ୍ କୁ ଶୀଘ୍ର ଆକ୍ସେସ୍ ପାଆନ୍ତୁ!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

ଏହି ପେଜ୍ ସହାୟକ ଥିଲା କି?