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Global Trade Alert

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India: Amendment to policy for opening foreign currency accounts

Description

On 27 February 2019, the Reserve Bank of India amended the policy for Foreign Currency Accounts by a person resident in India as part of the Foreign Exchange Management Regulations 2019. The amendment...

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Intervention Details

Intervention Type

Controls on commercial transactions and investment instruments

MAST Chapter

Capital control measures

Implementation date

27 Feb 2019

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

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Affected Sectors

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Affected Products

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