What type of funds can be credited to RFC accounts of Returning Indians?
A. The entire amount of foreign exchange brought to India at the time of their return to India for permanent settlement as well as the balances standing to the credit of their NRE and FCNR accounts at the time of return can be credited to RFC accounts. However, the foreign exchange brought to India in the form of foreign currency notes/bank notes/T.cheques should have been declared to Customs at the time of arrival on the Currency Declaration Form. If it exceeds the prescribed limits.
