Can funds be repatriated ?
As per the Liberalized Exchange Rate Management System (LERMS) all the remittances of foreign exchange to NRE accounts are converted into Indian rupee at the market rate of exchange and credits are given in terms of Indian rupees. Similarly, at the time of repatriation, the amount to be repatriated is converted into the designated foreign currency at the prevailing market rate of exchange. NRE Account offers all the facilities of the NRO account plus complete repatriation without informing the reserve bank.
