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

April 26, 2017abroad allowed certificates government maturity National proceeds repatriated 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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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 Reserve Bank(See Ansers to Questions 59 and 60).

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NRIs can repatriate the sale proceeds of Government securities / Units of domestic mutual funds, provided the purchase consideration was by inward remittance of foreign exchange through normal banking channels or out of funds held in NRE/FCNR (B) accounts of the purchaser. The sale proceeds of National Savings Certificates issued by Post Offices in India are non-repatriable.

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Ans. If such securities were purhased 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 Reserve Bank (See Answers to Questions 59 and 60). B. Company Shares/Debentures NRIs are permitted to make direct investments in proprietary/partnership concerns in India as also in shares/debentures of Indian companies. They are also permitted to make portfolio investments i.e. purchase of shares/debentures of Indian companies through stock exchange/s in India. These facilities are granted both on repatriation and non-repatriation basis. B.1 Direct Investment without Repatriation benefits Q.

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