Can the principal or the interest accrued on NRNR deposits be repatriated outside India?

Question: Can the principal or the interest accrued on NRNR deposits be repatriated outside India at any time?

Answer(s)

Raju Kanumuri: The principal amount of the deposit is not eligible for repatriation. Interest earned upto 30th September 1994 is also not eligible for repatriation. Interest earned for the period beginning 1st October 1994 is, however, eligible for repatriation.

Source : Reserve Bank Of India

Your Answer

Related Questions

Q: Are persons resident in India required to surrender foreign exchange acquired/held by them?

A: Yes. Residents receiving foreign exchange from abroad by way of gift, inheritance, remuneration for services rendered, etc. are required to bring it to India within three months acquiring the...

Q: Are Returning Indians permitted to acquire fresh foreign currency assets by remittance from India?

A: Yes, provided the funds for the purpose are drawn out of their Resident Foreign Currency Accounts Source : Reserve Bank Of India

Q: Do resident donees or legal heirs require the Reserve Bank permission to receive or hold foreign currency assets by way of gift or inheritance from Returning Indians or from those holding assets since prior to July 8, 1947 with the permission of the ..?

A: No. Resident donees or legal heirs of the persons covered under the general permission/exemption granted by the Government of India can continue to maintain their foreign currency assets provided...

Q: What is the Resident Foreign Currency Account Scheme?

A: This is a Scheme drawn up by the Reserve Bank permitting Returning Indians to open foreign currency accounts with banks in India for holding funds brought by them to India. This facility replaces...

Ask