Cross border deposit regulation: RBI framework for non resident accounts, repatriation and compliance obligations. The Regulations prohibit cross border deposits except as authorised, establish eligibility and operational rules for NRE, FCNR(B) and NRO accounts (permitted credits/debits, account forms, interest, change of residential status, nominee remittances), permit lending against deposits subject to bona fide use and Reserve Bank directions, prescribe terms for corporate repatriable and non repatriable deposits, and create SNRR and Escrow account regimes with specified conditions, repatriation rules, reporting and KYC obligations for authorised dealers and banks.
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Provisions expressly mentioned in the judgment/order text.
Cross border deposit regulation: RBI framework for non resident accounts, repatriation and compliance obligations.
The Regulations prohibit cross border deposits except as authorised, establish eligibility and operational rules for NRE, FCNR(B) and NRO accounts (permitted credits/debits, account forms, interest, change of residential status, nominee remittances), permit lending against deposits subject to bona fide use and Reserve Bank directions, prescribe terms for corporate repatriable and non repatriable deposits, and create SNRR and Escrow account regimes with specified conditions, repatriation rules, reporting and KYC obligations for authorised dealers and banks.
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