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Resident Foreign Currency (RFC) Account
: Account Funding
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- Permitted Credits
- Remittance from abroad such as funds in bank account outside India, income such as dividend, interest, profit, rent, etc., sale proceeds of eligible assets abroad
- Pension or other monetary benefits received outside India, arising out of employment outside India prior to his returning to India
- Interest earned on RFC account
- Foreign currency notes or travellers cheques
- Transfer from other RFC accounts
- Balance transferred from NRE or FCNR accounts
- Transfer from RIFEE account
- Permissible Debits
- Any bonafide remittance outside India through normal banking channels
- Withdrawals or payments in India (in Indian rupees)
- Transfer to other RFC accounts
- Payment in foreign currency in India can be permitted only with the permission of RBI
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Click here to apply for Resident Foreign Currency Account.
Click here to apply for Resident Foreign Currency Account.
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More information |
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Downloads |
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