NRE account operations permit foreign remittances, specified debits, secured lending, and restricted resident power-of-attorney operations. NRE accounts may be maintained by eligible non-resident Indians and persons of Indian origin in savings, current, recurring or fixed-deposit form. Credits ... Summary
NRE accounts may be maintained by eligible non-resident Indians and persons of Indian origin in savings, current, recurring or fixed-deposit form. Credits include permitted inward remittances, eligible account transfers, interest, tax-compliant Indian income, and specified investment or transaction proceeds. Debits may cover local payments, overseas remittances, transfers to eligible accounts, and permitted Indian investments. Loans against account funds are available only for specified personal, business, investment and residential purposes, subject to security and use restrictions. Resident power-of-attorney holders have limited operating powers and cannot generally repatriate, gift, or transfer account funds.
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