Post-death foreign currency account remittances permit non-resident nominees entitlement, while resident nominees require approval for overseas liabilities. Following the death of a foreign currency account holder, an authorised dealer may remit a non-resident nominee's share or entitlement from the deceased ... Summary
Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015
Post-death foreign currency account remittances permit non-resident nominees entitlement, while resident nominees require approval for overseas liabilities.
Following the death of a foreign currency account holder, an authorised dealer may remit a non-resident nominee's share or entitlement from the deceased holder's account. A resident nominee must apply to the Reserve Bank before remitting their share outside India to meet the deceased's overseas liabilities. A resident nominee holding a permitted account outside India must close it and repatriate the proceeds to India through banking channels.
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