What are the admissible credits and debits to NRE accounts?
1. Permitted credits: a) Proceeds of remittances to India in any permitted currency. b) Proceeds of personal cheque(s) drawn by the account holder on his foreign currency account and of travelers cheques , bank drafts payable in any permitted currency including instruments expressed in Indian rupees. c) Proceeds of foreign currency notes tendered by account holder during his temporary visit to India, provided (i) the amount was declared on a Currency Declaration Form (CDF), where applicable, and (ii) the notes are tendered to the authorized dealer in person by the account holder himself.. d) Transfers from other NRE/FCNR accounts. e) Interest accruing on the funds held in the account. f) Interest on Govt. securities and dividend on units of mutual funds, provided the securities/units were purchased by debit to the account holders NRE/FCNR account or out of inward remittance through normal banking channels.. g) Maturities proceeds of Government securities including National Plan/Saving
