Credit to NRE accounts: account payee cheques allowed when supported by authorised encashment certificates. AD Category I and authorised banks may credit proceeds of account payee cheques, in addition to demand drafts and bankers' cheques, to a Non Resident (External) Rupee (NRE) account where those instruments were issued against encashment of foreign currency and are supported by an encashment certificate issued by an AD Category I or AD Category II bank.
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Provisions expressly mentioned in the judgment/order text.
Credit to NRE accounts: account payee cheques allowed when supported by authorised encashment certificates.
AD Category I and authorised banks may credit proceeds of account payee cheques, in addition to demand drafts and bankers' cheques, to a Non Resident (External) Rupee (NRE) account where those instruments were issued against encashment of foreign currency and are supported by an encashment certificate issued by an AD Category I or AD Category II bank.
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