What are the admissible debits & credits to NRO / NRE Accounts?
• Debits and credits are allowed freely NRE Accounts • Debits are allowed freely, however debits for investments in Shares/securities/commercial paper of Indian companies or for purchase of immovable property in India should be covered by general/specific permission of RBI • Credits to an account, through funds from a local source would be permissible only if the funds are repatriable • Proceeds of remittances received from abroad in freely convertible currency through normal banking channels may be credited freely • Traveller’s Cheques or foreign currency tendered by the account holder during his temporary visit to India • Interest / Maturity Proceeds of Government securities including National Savings Certificates, dividends of Unit Trust of India, provided these securities were purchased out of funds from NRE / FCNR Accounts Can I open a Demat account with HSBC? Yes, we offer demat account for NRIs as well so that you can buy/sell shares in electronic form using our service. Can I a
NRO Accounts • Debits and credits are allowed freely. NRE Accounts • Debits are allowed freely, however debits for investments in Shares/securities/commercial paper of Indian companies or for purchase of immovable property in India should be covered by general/specific permission of RBI • Credits to an account, through funds from a local source would be permissible only if the funds are repatriable • Proceeds of remittances received from abroad in freely convertible currency through normal banking channels may be credited freely. • Traveller’s Cheques or foreign currency tendered by the account holder during his temporary visit to India. • Interest / Maturity Proceeds of Government securities including National Savings Certificates, dividends of Unit Trust of India, provided these securities were purchased out of funds from NRE / FCNR Accounts.
