Is repatriation of funds belonging to non-resident nominees permitted?
Ans. Funds held in the NRO account will be allowed to be credited to the non-resident nominee’s NRO account only and no repatriation is permitted. Funds from the deceased person’s NRE account paid to resident nominee will be allowed for remittance outside India for meeting liabilities if any of deceased account holder or for similar other purposes by submitting application to RBI.