RBI has notified Foreign Exchange Management (Deposit) (Fifth Amendment) Regulations, 2025.
The following has been stated –
Transfer of funds between repatriable Rupee accounts:-
Notwithstanding anything contained in these regulations, the transfer of funds, for all bona fide transactions, between repatriable Rupee accounts maintained in accordance with these regulations is permitted.
A person resident outside India, having business interest in India, may open a Special Non-Resident Rupee Account (SNRR account), with an authorised dealer in India or its branch outside India for the purpose of putting through permissible current and capital account transactions with a person resident in India in accordance with the rules and regulations framed under the Act, and for putting through any transaction with a person resident outside India.
Explanation: A unit in an International Financial Services Centre (IFSC) under section 18 of the Special Economic Zones Act, 2005 may open an SNRR account with an authorised dealer in India (outside IFSC) for its business related transactions outside IFSC.
Link- https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12766&Mode=0
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