Facilities to NRIs/PIOs and Foreign Nationals - Liberalisation

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....Nationals - Liberalisation A. Facilities to NRIs/PIOs Attention of authorised dealers is invited to the following AP (DIR Series) Circulars on the subject : (i) AP(DIR Series) Circular No.1 dated July 2, 2002. (ii) AP(DIR Series) Circular No.19 dated September 12, 2002. 2. At present, authorised dealers are allowed to repatriate funds held by NRIs/PIOs in their NRO Accounts, for the followin....

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....gly, it will be in order for authorised dealers to allow remittance/s upto USD 1 million, out of balances held in NRO accounts/sale proceeds of assets, on production of an undertaking and certificate by a person making the remittance, as stipulated in A.P. (DIR Series) Circular No.27 dated September 28, 2002 read with A.P. (DIR Series) Circular No.56 dated November 26, 2002. 5. The existing prohi....