14F.5
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Foreign Currency Accounts of Overseas Buyers
Reserve Bank may consider applications from overseas buyers for opening foreign currency accounts with authorised dealers in India provided they are funded by remittances in any permitted currency from abroad for making payments to Indian exporters. Authorised dealers should refer such requests to Reserve Bank with full particulars viz., name and address of the overseas party, sources of credits and the purpose of opening the account, etc.