International Financial Services Centres Authority vide circular dated August 30, 2023 has issued a Banking Handbook on Opening of SNRR account with AD Banks in India. An Indian Banking Unit may open an INR account, in the form of a Special Non-Resident Rupee Account (SNRRA), with an AD Bank in India to defray its administrative expenses.
The account shall be managed in compliance with the directions of the Reserve Bank of India.
