Credit to NRE accounts permitted for demand drafts and bankers' cheques supported by encashment certificates, subject to AML constraints. Credit to NRE accounts is permitted for proceeds of demand drafts and bankers' cheques issued against encashment of foreign currency where the instruments are supported by an encashment certificate issued by authorized dealers, enabling AD Category I banks and authorized banks to credit the NRE account of the NRI account holder as a liberalisation measure while remaining subject to anti money laundering constraints and other statutory permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Credit to NRE accounts permitted for demand drafts and bankers' cheques supported by encashment certificates, subject to AML constraints.
Credit to NRE accounts is permitted for proceeds of demand drafts and bankers' cheques issued against encashment of foreign currency where the instruments are supported by an encashment certificate issued by authorized dealers, enabling AD Category I banks and authorized banks to credit the NRE account of the NRI account holder as a liberalisation measure while remaining subject to anti money laundering constraints and other statutory permissions.
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