The International Financial Services Centre (IFSC) on January 29, 2025, notified regarding the amendment in the permissible transactions through the Special Non-Resident Rupee (SNRR) accounts of IFSC units.
It is stated that an amendment to FEMA Deposit Regulations as notified on January 14, 2025, now allows IFSC units to use their SNRR accounts for all business-related transactions in India.