According to RBI, resident individuals who have acquired foreign currency in the form of currency notes, bank notes and travelers cheques through any of the following sources are permitted to open such an account:

• Acquired by him while on visit to any place outside India by way of payment for services not arising from any business in or anything done in India; or
• Acquired by him, from any person not resident in India and who is on a visit to India, as honorarium or gift for services rendered or in settlement of any lawful obligation; or
• Acquired by him by way of honorarium or gift while on visit to any place outside India; or
• Represents the unspent amount of Foreign exchange acquired by him from an authorized person for travel abroad.
• Foreign exchange earned and/or gifts received from close relatives and repatriated to India through normal banking channels.