Accounts Under FEMA

1) Account :

Means, Savings, Current, Recurring, Fixed Deposit Opened And Maintained        under Non resident(External) Account Scheme(NRE Account), Foreign currency(Non- Resident)Account   Banks  Scheme (FCNR-B Account or Non-Resident(ordinary) Account Scheme (NRO Account)

2) EEFC Account :     

 Means the accounts referred to in the FEM(Foreign Currency Accounts  by A person resident in India) Regulations, 2000

3) Existing Account     :      Means an Account held on 31st March , 2002

4) Existing Account :     

 Means an Account Maintained on the date of  commencement of the regulations

5) FCNR Account   :    

i) Means an FCNR account opened and maintained in accordance with the FEM( Deposits) Regulations, 2000

ii) Shall have the same meaning as assigned to it in FEM(Deposits) Regulations, 2000

6) FCNR(B)Account  : 

Means a Foreign Currency Non-Resident (Bank) account referred to in clause (ii) of sub-regulation(1) of Regulation 5

7) Foreign Currency Account :

Means an account held or maintained in currency other than the currency of India or Nepal or Bhutan

8) NRNR Account     :

Means a Non-resident Non- repatrible account referred to in clause(iv) of sub-regulation(1) of Regulation 5

9) NRO Account    :

Means a Non- resident ordinary account referred to in clause (iii) of sub-regulation (1) of Regulation 5

10) NRSR Account   :

Means a Non -resident Special Rupee account referred to in clause (v) of sub - regulation(1) of Regulation 5

11) NRE Account :

  i) Means a non-resident Eternal account referred to in clause (i) of sub-regulation (1) of   Regulation 5

    ii) Means an NRE account opened and maintained in accordance with the FEM(Deposits) Regulations, 2000

12) RFC Account :

Means the accounts referred to in the FEM(Foreign Currency Accounts by a person Resident in India) Regulations, 2000