Non-resident Rupee Accounts expansion permits rupee external commercial borrowings, trade invoicing and repatriation flexibility for nominees. Expansion of Special Non-Resident Rupee (SNRR) Accounts to permit rupee external commercial borrowings, rupee trade credits, rupee trade invoicing, and business-related transactions of IFSC units outside the IFSC, with accounts maintained in banks in India; removal of tenure restriction for such SNRR accounts; and allowing amounts due to non-resident nominees of deceased account holders to be credited to NRE accounts or remitted abroad in addition to NRO credit.
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.
Non-resident Rupee Accounts expansion permits rupee external commercial borrowings, trade invoicing and repatriation flexibility for nominees.
Expansion of Special Non-Resident Rupee (SNRR) Accounts to permit rupee external commercial borrowings, rupee trade credits, rupee trade invoicing, and business-related transactions of IFSC units outside the IFSC, with accounts maintained in banks in India; removal of tenure restriction for such SNRR accounts; and allowing amounts due to non-resident nominees of deceased account holders to be credited to NRE accounts or remitted abroad in addition to NRO credit.
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