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Q: Are Returning Indians permitted to acquire fresh foreign currency assets by remittance from India?

A: Yes, provided the funds for the purpose are drawn out of their Resident Foreign Currency Accounts Source : Reserve Bank Of India

Q: Are persons resident in India required to surrender foreign exchange acquired/held by them?

A: Yes. Residents receiving foreign exchange from abroad by way of gift, inheritance, remuneration for services rendered, etc. are required to bring it to India within three months acquiring the...