13B.23
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Debits
Undernoted debit transactions may be allowed in NRE accounts.
(a) Local disbursements;
(b) Remittances abroad;
(c) Transfer to NRE/FCNR accounts of the same account holder;
(d) Transfer to NRE accounts of persons other than the account holder for any purpose [see paragraph 13B 19(ii)];
(e) Investment in shares/securities/commercial paper of Indian companies or for purchase of immovable property in India provided such investment is covered by general/special permission granted by Reserve Bank (Report on Form A4 should be submitted if the amount involved is Rs.1,00,000/- or more).
(f) Any other transaction if covered under general or special permission granted by Reserve Bank.