Credit of sale proceeds of Foreign Direct Investments in India to NRE/FCNR (B) accounts - Clarification

Last updated: 15 September 2011

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RBI/2011-12/177 A.P. (DIR Series) Circular No.16 September 15, 2011 To All Banks Authorised to Deal in Foreign Exchange Madam / Sir, Credit of sale proceeds of Foreign Direct Investments in India to NRE/FCNR (B) accounts - Clarification Attention of the Authorised Dealer (AD) banks is invited to Regulation 11 of theNotification No. FEMA 20/2000-RB dated May 3, 2000viz. Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000

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Notification No : RBI/2011-12/177

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