Section 2 in The Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016
2. Definitions.
- In these Regulations, unless the context requires otherwise, -(i)'Act' means the Foreign Exchange Management Act, 1999 (42 of 1999);(ii)'Authorized Dealer' means a person authorized as an authorized dealer under subsection (1) of Section 10 of the Act(iii)'Authorized Bank' means a bank, other than an authorized dealer, authorized by the Reserve Bank to accept deposits from persons resident outside India;(iv)'FCNR/ NRE account' means an FCNR or NRE account opened and maintained in accordance with the Foreign Exchange Management (Deposits) Regulations, 2016;The words and expressions used but not defined in these Regulations shall have the same meaning respectively assigned to them in the Act.(v)[ 'SNRR account' means a Special Non-Resident Rupee account referred to in sub regulation (4) of regulation 5 of Foreign Exchange Management (Deposit) Regulations, 2016.] [Inserted by Notification No. FEMA 14(R)/(1)/2019-RB, dated 13.11.2019 (w.e.f. 2.5.2016).]
