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ARTICLE · 12 AUGUST 2026

Banking & Finance Updates July 2026

King, Stubb & Kasiva
King, Stubb & Kasiva
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On June 18, 2026, the Reserve Bank of India (RBI) notified the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026 through Notification No. FEMA 5(R)(6)/2026-RB. The amendments introduce significant changes to the Foreign Exchange Management (Deposit) Regulations, 2016, with a primary focus on liberalising the regulatory framework governing Special Non-Resident Rupee (SNRR) Accounts.

IndiaFinance and Banking
Jidesh Kumar
Jidesh Kumar
Rajesh Sivaswamy
Rajesh Sivaswamy
Siddartha Karnani
Siddartha Karnani
Asha Kiran Sharma
Asha Kiran Sharma
Aurelia Menezes
Aurelia Menezes
Nivedita Bhardwaj
Nivedita Bhardwaj
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  1. RBI's Sixth Amendment to the FEMA (Deposit) Regulations: Liberalising the Framework for Special Non-Resident Rupee (SNRR) Accounts 

Introduction

On June 18, 2026, the Reserve Bank of India (RBI) notified the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026 through Notification No. FEMA 5(R)(6)/2026-RB. The amendments introduce significant changes to the Foreign Exchange Management (Deposit) Regulations, 2016, with a primary focus on liberalising the regulatory framework governing Special Non-Resident Rupee (SNRR) Accounts. The reforms aim to simplify banking arrangements for non-residents, strengthen the role of International Financial Services Centres (IFSCs), and support India's growing cross-border financial ecosystem.

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