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Q:

Does your Bank issue FCNR(B) Receipts instantly on presentation of Foreign Currency/TCs/draft and cheques?

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Ans.: Yes, In case of presentation of foreign currency, TCs and drafts, FCNR(B) receipts are issued on the same day itself.However, premature closure of such deposits or loans there against will be permitted only on realization of instruments deposited for creation of deposits.In case of personal cheques, however, FCNR(B) receipts are issued only after realization proceeds, i.e. after sighting credit in our Nostro Accounts. 23. more
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