# Clarification on usage of SNRR Accounts for IFSC units

Published: 20 Feb 2025
Author: Treelife
Practice area: News
Source: https://treelife.in/news/clarification-on-usage-of-snrr-accounts-for-ifsc-units/

---

IFSCA has amended the circular on permissible transactions through Special Non-Resident Rupee (SNRR) accounts to bring much-needed regulatory clarity and flexibility for IFSC units.

Previously, IFSC units faced restrictions on using SNRR accounts outside the IFSC for business-related transactions. Now, pursuant to this circular:

- IFSC units now have the flexibility to manage business-related expenses in INR outside IFSC, i.e., they may also receive funds in INR like government incentives or sales proceeds.

- Financial service-related transactions such as receipt of fees shall continue to stay within IFSC banking units.

This step simplifies operations for IFSC units and reinforces India’s growing role as a global financial hub. A welcome move to address industry needs!

Link to circular: [https://lnkd.in/dpPx-SQ2](https://lnkd.in/dpPx-SQ2)

### Related posts:

- [The Union Budget 2023: Macro Economic Highlights](https://treelife.in/news/the-union-budget-2023-macro-economic-highlights/)

- [Endorsement Know-hows! For Celebrities, Influencers & Virtual Influencers on Social Media platforms](https://treelife.in/news/endorsement-know-hows-for-celebrities-influencers-virtual-influencers-on-social-media-platforms/)

- [Deciphering the Supereme Court’s verdict on Most Favoured Nation (MFN) clause](https://treelife.in/news/deciphering-the-supereme-courts-verdict-on-most-favoured-nation-mfn-clause/)

- [Karnataka’s Global Capability Centres Policy: A Game Changer for India’s Tech Landscape](https://treelife.in/news/karnatakas-global-capability-centres-policy-a-game-changer-for-indias-tech-landscape/)

---

This is informational content from Treelife. For advice specific to your situation, contact support@treelife.in