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Non-Resident (External) NRE Savings Account
: Account Funding
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- Source of Funds
By foreign inward remittance by way of TT, DD, cheque, Travellers cheque, foreign currency, etc., or transfer from existing NRE or FCNR accounts.
- Permitted Credits
- Foreign inward remittances including foreign currency and TCs
- Transfer from existing NRE or FCNR accounts
- Maturity proceeds of government securities, NSCs, units of UTI, refund of shares or debentures provided the investments were made originally from funds in NRE or FCNR accounts
- Dividends or interest in respect of shares, debentures taken on repatriation basis provided investments is as per RBI approval
- Refund of shares or debentures, if the subscription was paid from NRE or FCNR accounts or remittance from abroad
- Refund of application or earnest money by the house building agencies, provided original payment was made out of NRE or FCNR accounts, or from inward remittance
- Permissible Debits
- Transfer to NRO, FCNR or RFC accounts
- For investments in Units of UTI, NSCs, deposits, etc.
- For all local payments
- Acquisition of immovable property for bona fide residential purpose
- Remittances outside India (repatriation)
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More information |
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