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Whether proceeds of repatriable investments in India of non resident Indian are eligible for credit to RFC account?

April 26, 2017account credit eligible India indian investments proceeds repatriable resident rfc

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Whether proceeds of repatriable investments in India of non resident Indian are eligible for credit to RFC account?

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No. Special permission from Reserve Bank of India is required because proceeds of repatriable investment in India do not fall under the category of permitted credits of Resident Foreign currency account scheme.