Features of various deposit schemes available to Non-Resident Indians (NRIs)

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....wnership as well as erstwhile OCBs require prior approval of RBI) Joint account In the names of two or more non-resident individuals In the names of two or more non-resident individuals May be held jointly with residents Nomination Permitted Permitted Permitted Currency in which account is denominated Pound Sterling, US Dollar, Jap. Yen, Euro, Canadian Dollar and Australian Dollar Indian Rupees Indian Rupees Repatriable Repatriable Repatriable Not repatriable except for the following in the account - 1) Current income 2) Upto USD 1 Million per financial year (April- March), for any bonafide purpose out of the balances in NRO account / sale proceeds of assets in India acquired by way of inheritance / legacy inclusive of asset....

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....rmitted upto Rs.20 lakhs Permitted upto Rs.20 lakhs Permitted upto Rs.20 lakhs Permitted Permitted b. Abroad i) to the Account holder ii) to Third Parties Permitted upto Rs.20 lakhs Permitted upto Rs.20 lakhs Permitted upto Rs.20 lakhs Permitted upto Rs.20 lakhs Not Permitted Not Permitted c. Foreign Currency Loans in India i) to the Account holder ii) to Third Parties Not Permitted Not Permitted Not Permitted Not Permitted Not Permitted Not Permitted Purpose of Loan a. In India i) to the Account holder i) Personal purposes or for carrying on business activities. * ii) Direct investment in India on non-repatriation basis by way of contribution to the capital of Indian firms / companies iii) Acquisition of flat....