The Reserve Bank of India (RBI) has issued the Foreign Exchange Management (Deposit) Regulations, 2016, which supersede the Foreign Exchange Management (Deposit) Regulations, 2000. The regulations have effectively made the following key changes:
(1) The definition of a non-resident Indian has been defined to mean a person resident outside India who is a citizen of India. The definition excludes a person of Indian origin (PIO) as opposed to the previous regulation.
(2) The definition of PIO has been elaborated to mean a person resident outside India who is a citizen of any country other than Bangladesh or Pakistan or such other country as may be specified by the central government, who:
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章，欢迎成为我们的订阅会员成为我们的订阅会员。
The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
