14E.5
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Debits
(i)The funds in the RFC account may be allowed to be freely utilised by the account holder for any bona fide remittance outside India through normal banking channels including for investments abroad provided the cost of such investments and/or any subsequent payments required therefor are met out of RFC account.
(ii)Withdrawals/payments from such accounts, other than for remittances outside India, or for payments in foreign currency authorised to be made in India by Reserve Bank, shall be permitted by the authorised dealer only in equivalent Indian rupees.