13A.11
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Temporary Overdrawings
Authorised dealers may allow temporary overdrawings in NRO Savings Bank accounts, up to a limit of Rs.20,000 subject to the condition that the overdrawings together with the interest payable thereon are cleared/repaid within a period of two weeks either by way of remittances from abroad or out of legitimate funds of the account holder or transfer from his NRE/FCNR accounts. However, Authorised dealers may exercise their own discretion/commercial judgement while allowing ovedraft under this provision.