EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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Non-residents have been permitted by Reserve bank of India (RBI) to open interest-bearing accounts for collection of margin money for derivative contracts
Non-residents have been permitted by RBI to open, hold and maintain a dedicated account i.e., an interest-bearing account in INR or foreign currency, for the purpose of posting and collecting margin in India for a permitted derivative contract entered in terms of the Foreign Exchange Management (Margin for Derivative Contracts) Regulations, 2020, dated 23 October 2020 subject to the approval of the concerned authorized dealer (AD) bank.