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of <h1>Foreign Currency Account Inheritance: Clear Rules for Remittance and Transfer of Deceased Account Holder's Funds to Nominees</h1> The regulation addresses remittance procedures for a foreign currency account after the account holder's death. An authorized dealer may remit funds to a non-resident nominee based on their share. A resident nominee seeking to remit funds abroad for deceased liabilities must apply to the Reserve Bank. A resident nominee of an offshore account must close the account and repatriate proceeds to India through banking channels.
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