RBI allows resident Indians to open foreign currency accounts in GIFT City
Indian residents are allowed to remit up to $250,000 (around ₹2.06 crore) per year without any prior approval from the Reserve Bank of India.
foreign currency accounts
July 2024
February 2021
RBI clips wings of IFSCA’s GIFT City banking plans
A potential tiff between regulators, policy restrictions, and likely legal hassles have delayed the proposed launch of foreign currency accounts by a slew of banks.
