https://www.taxtmi.com/acts?id=20780 FCNR(B) accounts allow NRIs and PIOs to hold designated-currency term deposits funded through eligible remittances, repatriable funds or transfers from NRE and FCNR(B) accounts. Foreign-currency and rupee remittances must be converted where necessary under prescribed exchange-rate rules. NRE-account conditions generally apply to permissible transactions, joint accounts, repatriation, power-of-attorney operations, and loans or overdrafts against deposits. Upon the holder becoming resident in India, deposits may continue until maturity but must thereafter be converted into an eligible resident rupee or RFC deposit account. en-us Thu, 07 Apr 2016 12:03:29 +0530 Tue, 08 Sep 2026 16:45:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20780 FCNR(B) accounts allow NRIs and PIOs to hold designated-currency term deposits funded through eligible remittances, repatriable funds or transfers from NRE and FCNR(B) accounts. Foreign-currency and rupee remittances must be converted where necessary under prescribed exchange-rate rules. NRE-account conditions generally apply to permissible transactions, joint accounts, repatriation, power-of-attorney operations, and loans or overdrafts against deposits. Upon the holder becoming resident in India, deposits may continue until maturity but must thereafter be converted into an eligible resident rupee or RFC deposit account. Act-Rules FEMA Thu, 07 Apr 2016 12:03:29 +0530 https://www.taxtmi.com/acts?id=20780