https://www.taxtmi.com/acts?id=20781 NRO accounts may be opened by persons resident outside India for bona fide rupee transactions, provided operations do not enable foreign exchange to be made available to an Indian resident against rupee reimbursement. Permitted credits include eligible inward remittances, legitimate Indian dues and NRO transfers; debits include local payments, eligible investments, post-tax remittance of current income and permitted account transfers. Balances are generally non-repatriable without approval. Loans, overdrafts, joint holding, power-of-attorney operations, redesignation on change of residential status, nominee payments and transaction reporting remain subject to prescribed restrictions. en-us Thu, 07 Apr 2016 12:04:03 +0530 Tue, 08 Sep 2026 16:51:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20781 NRO accounts may be opened by persons resident outside India for bona fide rupee transactions, provided operations do not enable foreign exchange to be made available to an Indian resident against rupee reimbursement. Permitted credits include eligible inward remittances, legitimate Indian dues and NRO transfers; debits include local payments, eligible investments, post-tax remittance of current income and permitted account transfers. Balances are generally non-repatriable without approval. Loans, overdrafts, joint holding, power-of-attorney operations, redesignation on change of residential status, nominee payments and transaction reporting remain subject to prescribed restrictions. Act-Rules FEMA Thu, 07 Apr 2016 12:04:03 +0530 https://www.taxtmi.com/acts?id=20781