Remittance of NRO account funds liberalised, allowing sale proceeds of immovable property within the annual remittance ceiling. AD Category I banks may permit remittances from NRO accounts, including sale proceeds of immovable property, subject to an overall cap of USD one million per financial year; the prior ten year lock in on remittance of sale proceeds has been removed. Banks must continue to observe existing documentary and other conditions and submit quarterly statements of applicants and amounts remitted to the Reserve Bank in the prescribed proforma within ten days of the reporting quarter.