https://www.taxtmi.com/acts?id=2047 Withdrawal of general permission for Overseas Corporate Bodies prohibits fresh accounts and fresh security investments. Existing NRE savings and current accounts must be closed with immediate repatriation, while NRO savings balances move to non-interest-bearing NRO current accounts subject to restricted disposal. Deposits may continue until original maturity, with prescribed repatriation or credit treatment. Facilities against OCB accounts are prohibited, and secured loans cannot be renewed. OCBs may transfer or dispose of specified existing investments but cannot participate in rights issues. Residents in India cannot borrow from or lend to OCBs, and outstanding loans cannot be renewed or accrue interest after due date. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 10 Sep 2026 12:52:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2047 Withdrawal of general permission for Overseas Corporate Bodies prohibits fresh accounts and fresh security investments. Existing NRE savings and current accounts must be closed with immediate repatriation, while NRO savings balances move to non-interest-bearing NRO current accounts subject to restricted disposal. Deposits may continue until original maturity, with prescribed repatriation or credit treatment. Facilities against OCB accounts are prohibited, and secured loans cannot be renewed. OCBs may transfer or dispose of specified existing investments but cannot participate in rights issues. Residents in India cannot borrow from or lend to OCBs, and outstanding loans cannot be renewed or accrue interest after due date. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2047