Are sale/maturity proceeds of Government Units allowed to be repatriated abroad?

Question: Are sale/maturity proceeds of Government securities/Units/National Savings Certificates allowed to be repatriated abroad?

Answer(s)

Raju Kanumuri: If such securities were purchased out of funds remitted from abroad or out of NRE/FCNR accounts, sale/maturity proceeds can be repatriated. Sale/maturity proceeds of securities purchased out of funds in NRO accounts can only be credited to NRO account s and cannot be remitted abroad. Interest earned during the financial year 1994-95 and onwards can, however, be remitted to the extent permitted by Reserve Bank.

Source : Reserve Bank Of India

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