Section 4(3) in Foreign Exchange Management (Deposit) Regulations, 2016
(3)Deposits held in accounts maintained in foreign currency by diplomatic missions, diplomatic personnel and nondiplomatic staff, who are the nationals of the concerned foreign countries and hold official passport of foreign embassies in India subject to the following conditions:(a)Credits to the account shall be only by way of:-(i)proceeds of inward remittances received from outside India through banking channels; and(ii)transfer of funds, from the rupee account of the diplomatic mission in India, which are collected in India as visa fees and credited to such account;(b)Funds held in such account if converted in rupees shall not be converted back into foreign currency;(c)The account may be held in the form of current or term deposit account, and in the case of diplomatic personnel and non-diplomatic staff, may also be held in the form of savings account;(d)The rate of interest on savings or term deposits shall be such as may be determined by the authorised dealer maintaining the account;(e)The funds in the account may be repatriated outside India without the approval of Reserve Bank.
