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of <h1>FDI Sale Proceeds Can Now Be Credited to NRE/FCNR Accounts Under FEMA Regulation 11.</h1> The circular clarifies that sale proceeds from Foreign Direct Investments (FDI) in India can be credited to Non-Resident External (NRE) or Foreign Currency Non-Resident (FCNR) accounts. Previously, under certain conditions, such proceeds were eligible for credit to these accounts if the purchase was made by Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs) using inward remittance or funds from their NRE/FCNR accounts. The circular confirms that this facility is now explicitly available under Regulation 11 of FEMA Notification No. 20/2000-RB. Authorized Dealer banks are instructed to inform their clients accordingly.
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