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Convert Dormant Forex Accounts into Rupees: RBI

Convert Dormant Forex Accounts into Rupees: RBI NEW DELHI RBI has asked banks to convert dormant foreign currency deposit account into Indian rupees. In case the deposit with a fixed maturity date remains inoperative for three years from the date of maturity, at the end of the third year, the bank shall convert the balances into Indian rupee at the exchange rate prevailing as on that date, RBI said.

Economic Times, New Delhi, 29-05-2014