NRO account operations permit bona fide rupee transactions while restricting repatriation, lending, power-of-attorney use, and reporting obligations.

NRO accounts may be opened by persons resident outside India for bona fide rupee transactions, provided operations do not enable foreign exchange to be made available to an Indian resident against rupee reimbursement. Permitted credits include eligible inward remittances, legitimate Indian dues and NRO transfers; debits include local payments, eligible investments, post-tax remittance of current income and permitted account transfers. Balances are generally non-repatriable without approval. Loans, overdrafts, joint holding, power-of-attorney operations, redesignation on change of residential status, nominee payments and transaction reporting remain subject to prescribed restrictions.

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