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Is permission of Reserve Bank required for sale of Government securities/units?

April 26, 2017Bank for sale government permission Reserve securities units

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Is permission of Reserve Bank required for sale of Government securities/units?

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No. Authorised dealers have been permitted to undertake sale of Government securities/units on behalf of NRIs without prior approval of Reserve Bank. Sale/maturity proceeds can be remitted abroad if the original investment was made out of funds remitted from abroad or funds in NRE/FCNR accounts. Otherwise, they will have to be credited to NRO account of the holder.