Ask, Answer & Discover
Latest Questions Q: I bought a holiday apartment in Goa with funds from UK. Due to ill health my wife can no longer travel this far.
I sold the apartment and money was paid into my NRO account with Axis Bank. I want to Repatriate this money back to UK. My bank is not helpful at all in this matter. How do I go about this transaction please?
Thank you and regards,
Frederick Stacey
- 166 Days ago
- Money Transfer
- Business and Finance
- Write an Answer
Q: Sir
I recently become NRI and converted my pension a/c with SBI to nro s/b a/c.In usa i have no means of income and want to get around $ 1000 transferred and there is a form NRI-11.2 and the first part of application doesn't require any certificates up to Rs 500000/per year.My Bank is refusing the transfer.
Can you please guide me about the correct procedure?
Thanks and regards
- 335 Days ago
- Money Transfer
- Business and Finance
- Write an Answer
Q: Can an OCI be given Power Of Attorney?
- 468 Days ago
- Others
- Business and Finance
- Write an Answer
Q: How long will it take to process an application?
A: can you please mention the application name which you want to process.
- 503 Days ago
- Others
- Business and Finance
- See Answer
Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.
A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year
The account can be credited with...
- 565 Days ago
- Others
- Business and Finance
- See Answer
Q: Can NRI transfer money out of India?
A: Yes, an NRI can transfer money out of India but the amount transferred should not be more than the amount remitted through a foreign exchange to India through bank channels.
- 590 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: What is the maximum amount that can be received in cash by the beneficiary?
A: The maximum amount that can be received in cash is Rs. 50,000. In case the amount of remittance exceeds Rs. 50,000, the full amount will be paid by way of Pay Order or by directly crediting the...
- 611 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: What is the maximum amount that can be remitted?
A: Any single remittance should not exceed USD 2500 or its equivalent. Also, the number of remittances to a single individual should not be more than 30 in a year
- 611 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: Can a person who returns to India after a short assignment abroad open an RFC account?
A: Yes, the person who returned to India after a short assignment abroad can open an RFC account.
- 635 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: 1)Can an NRI sell his inherited property in India with the help of Power of Attorney executed in favor of his son who is also an NRI? ( since the father is an old aged person unable to move, the son may come to India)
2) How to wire the sale proceeds to NRI's account abroad?
Please guide.
A: * A Power of attorney is a special choice for most sellers who have difficulties in attending to the execution and registration of sale deed.
* The reason for executing the POA should be clarified...
- 640 Days ago
- Money Transfer
- Business and Finance
- See Answer
Q: I bought a holiday apartment in Goa with funds from UK. Due to ill health my wife can no longer travel this far. I sold the apartment and money was paid into my NRO account with Axis Bank. I want to Repatriate this money back to UK. My bank is not helpful at all in this matter. How do I go about this transaction please? Thank you and regards, Frederick Stacey
- 166 Days ago
- Money Transfer - Business and Finance
- Write an Answer
Q: Sir I recently become NRI and converted my pension a/c with SBI to nro s/b a/c.In usa i have no means of income and want to get around $ 1000 transferred and there is a form NRI-11.2 and the first part of application doesn't require any certificates up to Rs 500000/per year.My Bank is refusing the transfer. Can you please guide me about the correct procedure? Thanks and regards
- 335 Days ago
- Money Transfer - Business and Finance
- Write an Answer
Q: Can an OCI be given Power Of Attorney?
- 468 Days ago
- Others - Business and Finance
- Write an Answer
Q: How long will it take to process an application?
A: can you please mention the application name which you want to process.
- 503 Days ago
- Others - Business and Finance
- See Answer
Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.
A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year The account can be credited with...
- 565 Days ago
- Others - Business and Finance
- See Answer
Q: Can NRI transfer money out of India?
A: Yes, an NRI can transfer money out of India but the amount transferred should not be more than the amount remitted through a foreign exchange to India through bank channels.
- 590 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: What is the maximum amount that can be received in cash by the beneficiary?
A: The maximum amount that can be received in cash is Rs. 50,000. In case the amount of remittance exceeds Rs. 50,000, the full amount will be paid by way of Pay Order or by directly crediting the...
- 611 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: What is the maximum amount that can be remitted?
A: Any single remittance should not exceed USD 2500 or its equivalent. Also, the number of remittances to a single individual should not be more than 30 in a year
- 611 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: Can a person who returns to India after a short assignment abroad open an RFC account?
A: Yes, the person who returned to India after a short assignment abroad can open an RFC account.
- 635 Days ago
- Money Transfer - Business and Finance
- See Answer
Q: 1)Can an NRI sell his inherited property in India with the help of Power of Attorney executed in favor of his son who is also an NRI? ( since the father is an old aged person unable to move, the son may come to India) 2) How to wire the sale proceeds to NRI's account abroad? Please guide.
A: * A Power of attorney is a special choice for most sellers who have difficulties in attending to the execution and registration of sale deed. * The reason for executing the POA should be clarified...
- 640 Days ago
- Money Transfer - Business and Finance
- See Answer
News
Indian-origin Pritam Singh formally takes charge as first Leader of the Opposition in Singapore - Economic Times
Indian-origin Pritam Singh formally takes charge as first Leader of the Opposition in Singapore - Economic Times
US embassies in India to accept applications for certain visa categories, including H-1B renewals - Economic Times
Ex-husband, son charged with murder of Indian-origin woman in UK - https://timesofindia.indiatimes.com/nri
India's young white-collar workers are front-row in the firing line - Economic Times
