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Do NRIs need permission from the Reserve Bank for placing funds in fixed deposits with firms/companies on a non-repatriation basis ?

April 26, 2017Bank companies deposits firms fixed funds NRIs permission placing Reserve

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Do NRIs need permission from the Reserve Bank for placing funds in fixed deposits with firms/companies on a non-repatriation basis ?

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Ans. Yes. Permission for placement of funds in fixed deposits with firms/companies in India is granted by the Reserve Bank on application by the depositor or the deposit accepting firm/company, on non-repatriation basis subject to certain ceilings/conditions.