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The Reserve Bank of India issues the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025. A person resident in India, who is an exporter, may open, hold, and maintain a foreign currency account with a bank outside India. The exporter uses this account for the realisation of full export value and advance remittance received for the export of goods or services. The exporter utilizes the funds to pay for imports into India. The exporter repatriates the funds into India within a period not exceeding the end of the next month from the receipt date. This repatriation follows adjustments for forward commitments and meets the requirements of Regulation 9 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2015. These regulations take effect from the date of publication in the Official Gazette.
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RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001
Notification No. FEMA 10(R)(5)/2025-RB
January 14, 2025
Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Fifth Amendment) Regulations, 2025
In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 [Notification No. FEMA 10(R)/2015-RB dated January 21, 2016] (hereinafter referred to as 'the principal regulations'), namely:
"CA. A person resident in India, being an exporter, may open, hold and maintain a Foreign Currency Account with a bank outside India, for realisation of full export value and advance remittance received by the exporter towards export of goods or services. Funds in this account may be utilised by the exporter for paying for its imports into India or repatriated into India within a period not exceeding the end of the next month from the date of receipt of the funds after adjusting for forward commitments, provided that the realisation and repatriation requirements as specified in Regulation 9 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 are also met."
(Dr. Aditya Gaiha) Chief General Manager-in-Charge
The Principal Regulations were published in the Official Gazette of Government of India – Extraordinary – Part-II, Section 3, Sub-Section (i) dated 21.01.2016 - G.S.R.No.96(E) and subsequently amended vide the following, namely;
G.S.R. No.570(E) dated 01.06.2018
G.S.R. No.160(E) dated 27.02.2019
Notification No.FEMA.10R(3)/2024-RB dated 23.04.2024
Notification No.FEMA.10R(4)/2024-RB dated 21.11.2024
