- From now on NRI’s shall be permitted to open NRE/FCNR(B) account JOINTLY with their CLOSE RELATIVES.
- Also NRI’s can be joint holder in resident bank accounts of persons living in India.
- Sale proceeds of Investments (FDI) by NRI’s can now be directly credited to NRE/FCNR(B) Account.
- Limit for transfer without RBI approval, of any security including shares/convertible debentures by way of gift by Indian resident to NRI has been increased to 50,000USD.
CAclubindia
