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What are the permissible debits/credits to the NRE/FCNR Accounts?

April 26, 2017accounts Credits debits FCNR NRE permissible

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What are the permissible debits/credits to the NRE/FCNR Accounts?

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• Debits are allowed freely, however debits for investments in shares/securities/commercial paper of Indian companies or for purchase or immovable property in India should be covered by general/specific permission of RBI. • Credits to an account, through funds from a local source would be permissible only if the funds are of repatriable nature.