Balances held in NRE accounts can be repatriated abroad freely, whereas funds in NRSR and NRO account cannot be remitted abroad but have to be used only for local payments in rupees. Consequently, funds remitted from abroad or local funds which can otherwise be remitted abroad to the account holder can only be credited to NRE accounts. Funds due to the non-resident account holder which do not qualify, under the Exchange Control regulations, for remittance outside India are required to be credited to NRO accounts.
The account holder can freely transfer funds from NRO/NRE/FCNR accounts to NRSR account but transfer of funds from NRSR account to other accounts of NRI is not permissible irrespective of the source of funds.
However funds in NRO accounts can be repatriated subject to / as per various directives in force at the time of repatriation. More details can be found on RBI website, www.rbi.org.in
|Type of account Currency ||Currency ||Repatriable / Non Repatriable |
|NRE – Non Resident External ||INR ||Freely Repatriable |
|NRO – Non Resident Ordinary ||INR ||Non Repatriable, repatriable subject to RBI conditions |
|NRSR – Non Resident Special Rupee ||INR ||Non Repatriable |