I am an NRI. I had remitted some funds to India to offset the interest on my home loans. I have a SBI Maxgain homeloan which allows me to park the funds and pay interest only on the difference between the actual outstanding loan balance and the parked funds, while still retaining the flexibility to withdraw the parked funds anytime.
Now I want to repatriate the funds abroad. I am allowed to withdraw the funds but can I repatriate it gfrom my NRO account. Am I allowed to do it? The amount is about 35 lakhs (about $50,000). If not, are there other avenues available through which I could do it? Any advice would be much appreciated. Thanks.
ST
CAclubindia
