14B.5
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Inland Movement of Funds
Any inland movement of funds for the purpose of operating FCNR(B) Accounts as well as for repatriation abroad of balances held in FCNR(B) accounts will be free of inland exchange or commission for the nonresident depositors. Authorised dealers receiving foreign currency remittances under the Scheme will also on request pass on the foreign currency to another authorised dealer if FCNR(B) account has to be opened with the latter, at no extra cost to remitter