What are the documents that can be accepted as source of proof for credit to NRE accounts?
• Foreign currency demand drafts representing funds from overseas/FCNR/NRE sources • ICICI Bank NRE account cheques • Cheques / pay orders / demand drafts with specific evidence/certificate/advice that the funds are from foreign source or repatriable in nature: Cheque issued from another NRE account (with suitable crossing or account number and account type printed on the cheque) Closure proceeds of FCNR deposits (The issuing banks should advise that the funds are repatriable in nature) Foreign inward remittances (The issuing banks should advise that the funds are repatriable in nature) Closure proceeds of OBU deposits (The issuing banks should advise that the funds are repatriable in nature) • An IPO refund order accompanied by a letter/advice from the registrar stating that the investment was from a repatriable source • A letter from the registrar/bank for receipt of refund of amount from application for shares if the amount of subscription was paid from the NRE account • A letter fr
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