Date: 2026-06-18Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by sub section 2 of section 6 and sub section 2 of section 47 of the Foreign Exchange Management Act, 1999 42 of 1999, the Reserve Bank of India
**Executive Summary**
The Reserve Bank of India issued the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026, on June 18, 2026. These regulations amend the principal 2016 regulations to include International Financial Services Centres (IFSCs) and modify rules regarding Special Non-Resident Rupee (SNRR) accounts. The amendments are effective as of their publication date in the Official Gazette.
**Key Points / Main Content**
* **Definitions and Scope**
* The term "International Financial Services Centre" (IFSC) is formally defined as per the International Financial Services Centres Authority Act, 2019.
* Persons resident outside India are permitted to open, hold, and maintain SNRR accounts with authorized dealers in India or their branches located outside India, specifically including those in an IFSC.
* **Account Transfers and Limits**
* Transfers from Non-Resident Ordinary (NRO) accounts to SNRR accounts are permitted, provided they remain within the limits specified in Regulation 4 of the FEMA (Remittance of Assets) Regulations, 2016.
* Transfers to Non-Resident External (NRE) or SNRR accounts are allowed within the limits defined by the FEMA (Remittance of Assets) Regulations, 2016.
* Transfers between NRO and SNRR accounts must be conducted in accordance with Schedule 3 of the regulations.
* **Operational and Regulatory Changes**
* SNRR accounts are intended for permissible current and capital account transactions with Indian residents and for bona fide transactions with persons resident outside India.
* Paragraphs 2, 5, 6, 7, and 8 of Schedule 4 in the principal regulations have been deleted.
* For transactions between non-residents involving SNRR accounts that are not subject to standard FEMA Act compliance, Authorized Dealer (AD) banks must execute transfers based on the account holder's mandate, which must clearly indicate the underlying purpose of the transfer.
**Impact Analysis**
**Persons Resident Outside India (Non-Residents)**
**Impact**
They have expanded flexibility to maintain SNRR accounts through IFSC branches and can now perform specific transfers between NRO, NRE, and SNRR accounts within regulated limits.
**Action Required**
When initiating transfers between non-residents involving SNRR accounts, they must provide a clear instruction or mandate to their bank stating the underlying purpose of the transaction.
**Authorized Dealer (AD) Banks**
**Impact**
Banks, including their branches in IFSCs, are now formally authorized to facilitate these expanded SNRR account services and transfers.
**Action Required**
Banks must ensure that transfers from NRO/NRE accounts to SNRR accounts adhere to specified limits and must verify the purpose of transfers for transactions between non-residents.
**International Financial Services Centres (IFSCs)**
**Impact**
IFSC branches are now explicitly integrated into the regulatory framework for opening and maintaining SNRR accounts.
**Action Required**
IFSC-based branches must align their deposit-taking and account maintenance services with the updated Schedule 4 provisions.
Key Entities Referenced
Foreign Exchange Management (Deposit) Regulations, 2016: The principal regulatory framework governing bank deposits by non-residents in India, which this notification seeks to amend.
Special Non-Resident Rupee Account (SNRR account): A specific type of rupee account for non-residents to conduct permissible transactions in India, the rules for which are modified by this amendment.
Foreign Exchange Management Act, 1999 (FEMA): The primary legislation that regulates foreign exchange transactions in India and provides the authority for these regulations.
International Financial Services Centre (IFSC): Designated financial zones in India, specifically defined in the amendment as eligible locations for opening and maintaining SNRR accounts.
Foreign Exchange Management (Remittance of Assets) Regulations, 2016: Referenced regulations that define the permissible limits for transferring funds from NRO or NRE accounts to SNRR accounts.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-एम.एच.-अ.-22062026-273715
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 408] नई ददल्ली, बृहस्ट्प जतर्ार, िनू 18, 2026/ज्य ष्े ठ 28, 1948 ष 22, 1947
No. 408] NEW DELHI, THURSDAY, JUNE 18, 2026/JYAISTHA 28, 1948 s 1947
भारतीय ररज़र् व बकैं
(जर्देिी मद्रु ा जर्भाग)
(केंद्रीय कायालव य)
अजधसचू ना
मबुं ई, 18 जनू , 2026
जर्देिी मद्रु ा प्रबधं (िमा) (छठर्ा ाँसिं ोधन) जर्जनयमार्ली, 2026
फा. स.ं फेमा 5(आर)(6)/2026-आरबी.—जर्देिी मुद्रा प्रबंध अजधजनयम, 1999 (1999 का 42) की धारा 6 की उप-धारा
(2) और धारा 47 की उप-धारा (2) द्वारा प्रदत्त िजियों का प्रयोग करत े हुए भारतीय ररज़र्व बैंक जर्देिी मुद्रा प्रबंध (िमा)
जर्जनयमार्ली, 2016 (01 अप्रैल 2016 की अजधसूचना स.ं फेमा. 5 (आर)/2016-आरबी) (जिसे इसके बाद ‘मलू
जर्जनयमार्ली’ कहा िाएगा) म ेंजनम्नजलजखत संिोधन करता ह,ै यथा:-
1. संजिप्त नाम एर् ं प्रारंभ: -
(i) यह जर्जनयमार्ली जर्देिी मुद्रा प्रबंध (िमा) (छठर्ााँ संिोधन) जर्जनयमार्ली, 2026 कहलाएगी।
(ii) यह सरकारी रािपत्र म ें इसके प्रकािन की तारीख स ेलाग ू होगी।
4482 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
2. मलू जर्जनयमार्ली म,ें जर्जनयम 2 म,ें खडं (v) के पश्चात् जनम्नजलजखत को अंतर्र्वष्ट दकया िाएगा, यथा:-
“(v-ए) “अंतरराष्ट्रीय जर्त्तीय सर्े ा केंद्र” या “आईएफएससी” का र्ही अथव होगा िो अतं रराष्ट्रीय जर्त्तीय सेर्ा केंद्र प्राजधकरण
अजधजनयम, 2019 (2019 का 50) की धारा 3 के खंड (छ) म ेंददया गया ह।ै "
3. मलू जर्जनयमार्ली म,ें जर्जनयम 5 के उप जर्जनयम (4) को जनम्नजलजखत द्वारा प्रजतस्ट्थाजपत दकया िाएगा, अथावत:् -
“भारत स ेबाहर का जनर्ासी कोई व्यजि भारत म ेंदकसी प्राजधकृत व्यापारी अथर्ा भारत के बाहर इसकी िाखा म ें(जिसम ें
भारत में आईएफएससी भी िाजमल ह)ै , अनुसूची-4 म ें यथा जर्जनर्दवष्ट, जर्िेष अजनर्ासी रुपया खाता (एसएनआरआर
खाता) खोल सकता ह,ै धारण कर सकता ह ैऔर रख सकता ह।ै “
4. मलू जर्जनयमार्ली म,ें अनुसचू ी 1 म,ें पैराग्राफ 3 म ें मद (ि)े के बाद, जनम्नजलजखत को िोडा िाएगा, अथावत्:-
“(के) एनआरओ खात े स ेअंतरण जर्देिी मुद्रा प्रबंध (पररसंपजत्तयों का जर्प्रेषण) जर्जनयमार्ली, 2016 के जर्जनयम 4 के
तहत जर्जनर्दवष्ट सीमा के अतं गतव होगा।”
5. मलू जर्जनयमार्ली म,ें अनुसचू ी 3 म,ें पैराग्राफ 3 के उप पैराग्राफ (बी) म,ें मद (iv) के बाद, जनम्नजलजखत को िोडा
िाएगा, अथावत:् -
“(v) एनआरई या एसएनआरआर खाते म ेंअतं रण जर्देिी मद्रु ा प्रबंध (पररसंपजत्तयों का जर्प्रेषण) जर्जनयमार्ली, 2016 के
जर्जनयम 4 के तहत जर्जनर्दवष्ट सीमा के अंतगवत होगा।”
6. मलू जर्जनयमार्ली की अनुसचू ी 4 म,ें मौिूदा परै ाग्राफ 1 को जनम्नजलजखत द्वारा प्रजतस्ट्थाजपत दकया िाएगा, अथावत्:-
भारत के बाहर जनर्ासी व्यजि, भारत म ेंजनर्ासी व्यजि के साथ अनुमत चाल ू और पूंिी खाता लने देन करन,े इस
अजधजनयम के तहत बनाई गई जनयमार्ली और जर्जनयमार्ली के अनुसरण म,ें और भारत के बाहर जनर्ासी व्यजि के साथ
कोई र्ास्ट्तजर्क लेनदने करने के उद्देश्य स े भारत म ें दकसी प्राजधकृत व्यापारी या भारत के बाहर उसकी िाखा म ें(जिसम ें
भारत में आईएफएससी भी िाजमल ह)ै , जर्िेष अजनर्ासी रुपया खाता (एसएनआरआर खाता) खोल सकता ह।ै
7. मलू जर्जनयमार्ली म,ें अनुसचू ी 4 म ें मौिूदा अनच्ु छेद ें 2, 5, 6, 7, 8 को हटा ददया िाएगा।
8. मलू जर्जनयमार्ली म,ें अनुसचू ी 4 म,ें मौिूदा परै ाग्राफ 10 को जनम्नजलजखत स े प्रजतस्ट्थाजपत दकया िाएगा, अथावत्:-
“एनआरओ खाते स ेएसएनआरआर खाते म ेंअंतरण इस अजधसचू ना की अनुसूची 3 के अनुसार होगा।”
9. मलू जर्जनयमार्ली म,ें अनुसचू ी 4 म ेंपैराग्राफ 15 के बाद जनम्नजलजखत को िोडा िाएगा, अथावत:् -
“16. एसएनआरआर खातों स ेिुडे भारत के बाहर जनर्ासी व्यजियों के बीच लेनदेन, िो अजधजनयम या उसके तहत बनाई
गई जनयमार्ली और जर्जनयमार्ली के अनुपालन के अधीन नहीं हो सकते ह,ैं एडी बैंक द्वारा खाताधारक के जनदिे /आदेि
के आधार पर दकए िाएगं े, जिसम ें अंतरण का अंतर्नवजहत उद्दश्े य बताया िाएगा।“
एन सेंजथल कुमार, मुख्य महाप्रबंधक
[जर्ज्ञापन-III/4/असा./177/2026-27]
मूल जर्जनयमार्ली भारत सरकार के सरकारी रािपत्र- असाधारण – भाग-II, खण्ड 3, उप-खण्ड (i) िीएसआर संख्या 389
(ई), ददनांक 1 अप्रैल 2016 म ेंप्रकाजित की गयी थी और इस ेबाद म ें जनम्नजलजखत द्वारा संिोजधत दकया गया, अर्थता ्,-
िीएसआर संख्या 1093 (ई) ददनांक 09.11.2018
िीएसआर संख्या 498 (ई) ददनांक 16.07.2019[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3
अजधसूचना सं. फेमा 5(आर)/(3)/2019-आरबी ददनांक 13 नर्बं र 2019
अजधसूचना सं. फेमा 5(आर)/(4)/2024-आरबी ददनांक 06 मई 2024
अजधसूचना सं. फेमा 5(आर) (5)/2025-आरबी ददनांक 01 िनर्री 2025
RESERVE BANK OF INDIA
(Foreign Exchange Department)
(CENTRAL OFFICE)
NOTIFICATION
Mumbai, the 18th June, 2026
Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026
F. No. FEMA 5(R)(6)/2026-RB.—In exercise of the powers conferred by sub-section (2) of section 6 and sub-section
(2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the
following amendment in the Foreign Exchange Management (Deposit) Regulations, 2016 (Notification No. FEMA 5
(R)/2016-RB dated April 01, 2016) (hereinafter referred to as 'the principal regulations'), namely:-
1. Short Title and Commencement: -
(i) These regulations may be called the Foreign Exchange Management (Deposit) (Sixth Amendment)
Regulations, 2026.
(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 (v), the following shall be inserted namely:-
“(v-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, the sub-regulation (4) of regulation 5, shall be substituted by the following namely:-
“Any person resident outside India may open, hold and maintain with an authorised dealer in India or its branch
outside India (including in an IFSC in India), a Special Non-Resident Rupee Account (SNRR account), specified in
Schedule 4.”
4. In the principal regulations, in Schedule 1, in paragraph 3, after clause (j), the following shall be inserted namely:-
“(k) Transfer from NRO account within the limit specified in Regulation 4 of Foreign Exchange Management
(Remittance of Assets) Regulations, 2016.”
5. In the principal regulations, in Schedule 3, in sub-paragraph (B) of paragraph 3, after clause (iv), the following shall
be inserted namely:-
“(v) Transfer to NRE or SNRR account within the limit specified in Regulation 4 of Foreign Exchange Management
(Remittance of Assets) Regulations, 2016.”
6. In the principal regulations, in Schedule 4, the existing paragraph 1 shall be substituted by the following namely:-
A person resident outside India may open a Special Non-Resident Rupee Account (SNRR account), with an
authorised dealer in India or its branch outside India (including in an IFSC in 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 bona fide transaction with a person resident
outside India.
7. In the principal regulations, in Schedule 4, the existing paragraphs 2,5,6,7,8 shall be deleted.
8. In the principal regulations, in Schedule 4, the existing paragraph 10 shall be substituted by the following namely:-
“Transfer from NRO account to SNRR account shall be in accordance with the Schedule 3 of these regulations.”
9. In the principal regulations, in schedule 4, after paragraph 15, the following shall be inserted namely:-4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
“16. Transactions between persons resident outside India involving the SNRR accounts, which may not be subject to
compliance under the Act, or the Rules and Regulations framed thereunder, are to be effected by the AD bank based
on instructions/mandate from the account holder that shall indicate the underlying purpose of the transfer.”
N SENTHIL KUMAR, Chief General Manager
[ADVT.-III/4/Exty./177/2026-27]
The Principal Regulations were published in the Official Gazette of Government of India – Extraordinary – Part-II,
Section 3, Sub-Section (i) dated G.S.R. No. 389(E) dated April 1, 2016 and subsequently amended vide the following,
namely,-
G.S.R. No. 1093(E) dated 09.11.2018
G.S.R. No. 498(E) dated 16.07.2019
Notification No. FEMA 5(R)/(3)/2019-RB dated November 13, 2019
Notification No. FEMA 5(R)/(4)/2024-RB dated May 06, 2024
Notification No. FEMA 5(R) (5)/2025-RB dated January 14, 2025
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.