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Are sale / maturity proceeds of Government securities / Units / National Savings Certificates allowed to be repatriated abroad ?

April 26, 2017allowed certificates government maturity National proceeds sale savings securities units

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Are sale / maturity proceeds of Government securities / Units / National Savings Certificates allowed to be repatriated abroad ?

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Ans. If such securities were purchased out of funds remitted from abroad or out of NRE / FCNR accounts, sale/maturity proceeds can be repatriated. Sale / maturity proceeds of securities purchased out of funds in NRO accounts can only be credited to NRO accounts and cannot be remitted abroad. Interest earned during the financial year 1994-95 and onwards can, however, be remitted to the extent permitted by the Reserve Bank.