NRE ACCOUNTS
This query is : Resolved
17 May 2016
is there a NRI who has his own nre account in any bank (p&sb bank) deposit dollar in his relatives nre account in the same bank even in same branch in which his own nre account.
18 May 2016
What is the dispute? Is he gifting the USD to his/her relative? Then s/he may do so. No issues.
18 May 2016
my question is as a banker can I deposit foreign currency from other nri. lets suppose his name is Ram. Ram ( he is nri) comes to my bank & said deposit 1000 dollar into shyam (he is also nri) nre account. can bank accept deposit.
18 May 2016
yes, why not. P&SB....i suppose it means Punjab and Sind Bank. Right? P&SB is not only money changer but also Authorised Dealeras per FEMA. So it can very well do that subject to however the declaration from the depositor. please see form AS2.
18 May 2016
please provide me web link for RBI or fema circular or any article and also I am not able to find form as 2. and yes its punjab and sind bank. Thanks for replying my questions Amol.
18 May 2016
It is form A 2......
sorry my mistake...i wrote AS2
sorry my mistake...i wrote AS2
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