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Whether NBFCs can accept deposits from NRIs?

deposits nbfcs NRIs
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Whether NBFCs can accept deposits from NRIs?

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10

Effective from April 24, 2004, NBFCs cannot accept deposits from NRIs except deposits by debit to NRO account of NRI provided such amount does not represent inward remittance or transfer from NRE/FCNR (B) account. However, the existing NRI deposits can be renewed.

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