During their visit to India, can the Non-Resident Indian use Travellers Cheques or Currency notes to open an account or credit the existing NRE account?
Non-Resident Indians are permitted to use Travellers Cheques or Currency Notes to open an account or credit the existing NRE account, subject to certain conditions and limits as stated below: In the case of those foreign currency notes brought by the Non-Resident Indians exceeds USD 5,000 or Travellers Cheques and notes exceeding USD 10,000, the NRI is required to submit the Currency Declaration Form (CDF) to the customs authorities in India. The CDF has to be submitted for endorsement by the bank for opening or credit to an account.
Non-Resident Indians are permitted to use Travellers Cheques or Currency Notes to open an account or credit the existing NRE account, subject to certain conditions and limits as stated below: In the case of those foreign currency notes brought by the Non-Resident Indians exceeds USD 5,000/- OR Travellers Cheques and notes exceeding USD 10,000, the NRI is required to submit the Currency Declaration Form (CDF) to the customs authorities in India. The CDF has to be submitted for endorsement by the bank for opening/credit to an account.
Related Questions
- Can proceeds of foreign currency notes/ travellers cheques brought by NRIs during their visit to India be credited to their NRE accounts without any restriction?
- During their visit to India, can the Non-Resident Indian use Travellers Cheques or Currency notes to open an account or credit the existing NRE account?
- During their visit to India, can the NRI use Travellers Cheques or Currency notes to open an account or credit the existing NRE account?
