Repatriable deposits by NRIs and PIOs require public schemes, permitted funding channels, maturity limits, and use restrictions. Indian-incorporated companies may accept repatriable deposits from Non-resident Indians and Persons of Indian Origin through public deposit schemes, ... Summary
Repatriable deposits by NRIs and PIOs require public schemes, permitted funding channels, maturity limits, and use restrictions.
Indian-incorporated companies may accept repatriable deposits from Non-resident Indians and Persons of Indian Origin through public deposit schemes, provided funds are received through permitted remittance or account debit channels. Deposits are subject to interest limits, a maximum maturity of three years, an aggregate cap of 35% of net owned funds, and applicable regulatory compliance. Use of deposits is restricted for re-lending by non-banking finance companies and for agricultural, plantation and real estate activities. Interest and repayment may be remitted or credited to specified non-resident or NRO accounts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.