Remittance of assets by foreign nationals - Opening of NRO Accounts.

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....counts with an Authorised Dealer Category - I (AD Category-I) bank in India. The AD Category-I banks are required to close the resident accounts of such foreign nationals on their leaving the country and transfer their assets to their accounts maintained abroad. In this connection, attention of the AD Category-I banks is invited to paragraph 8 of Schedule 3 to the Notification No. FEMA 5 /2000-RB ....

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....able them to receive their pending bonafide dues, subject to the following conditions * AD Category-I bank should obtain the full details from the account holder about his legitimate dues expected to be received into his account. * AD Category-I bank has to satisfy itself as regards the credit of amounts which have to be bonafide dues of the account holder when she / he was a resident in India....