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REGD. No. D. L.-33004/99
The Gazette of India
CG-MH-E-02012026-269030
EXTRAORDINARY
PART III-Section 4
PUBLISHED BY AUTHORITY
No. 829]
NEW DELHI, FRIDAY, DECEMBER 26, 2025/PAUSHA 5, 1947
RESERVE BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
Mumbai, the 6th October, 2025
Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Seventh
Amendment) Regulations, 2025
F.No. FEMA 10(R)(7)/2025-RB— 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:
1. Short Title and Commencement: -
(i) These regulations may be called the Foreign Exchange Management (Foreign Currency Accounts by a person
resident in India) (Seventh Amendment) Regulations, 2025.
(ii) They shall come into force from the date of their publication in the Official Gazette.
2. In the principal regulations, in regulation 2, after clause (iii), the following shall be inserted namely:-
"(iii-a) 'International Financial Services Centre' or 'IFSC' shall have the same meaning as assigned to it in clause (g)
of section 3 of the International Financial Services Centres Authority Act, 2019 (50 of 2019)."
3. In the principal regulations, in regulation 5, the sub-regulation (CA) shall be substituted by the following, 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
(a) three months in case of accounts maintained with banks in an International Financial Services Centre; or
(b) next month for all other jurisdictions;
from the date of receipt of the funds after adjusting for forward commitments, provided that the realisation and
repatriation requirements as specified in the Foreign Exchange Management (Export of Goods and Services)
Regulations, 2015, as amended from time to time, are also met."
4. In the principal regulations, at the end of regulation 5, the following shall be inserted namely:-
"Explanation: - For the purpose of regulation 5, the foreign currency accounts permitted to be opened 'outside India/
abroad' can also be opened in International Financial Services Centre."
N. SENTHIL KUMAR, Chief General Manager
[ADVT.-III/4/Exty./567/2025-26]
Footnote: 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;
Notification G.S.R. No.570(E) dated 01.06.2016
Notification 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
Notification No.FEMA.10R(5)/2025-RB dated 14.01.2025
Notification No.FEMA.10R(6)/2025-RB dated 29.04.2025
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Digitally signed by GORAKHA NATH
GORAKHA NATH YADAVA YADAVA
Date: 2026.01.02 16:21:21 +0530