Permissible Credits
- Proceeds of remittances from outside India through normal banking channels received in freely convertible foreign currency.
- Any foreign currency which is freely convertible tendered by the account holder during his temporary visit to India.
a) Foreign currency exceeding USD 5000/- or its equivalent in form of cash to be supported by currency declaration form.
b) Rupee funds to be supported by encashment certificate, if they represent funds brought from outside India. - Transfers from rupee accounts of non-resident banks.
- Legitimate dues in India of the account holder including current income like rent, dividend, pension, interest, sale proceeds of assets including immovable property acquired out of rupee/foreign currency funds or by way of legacy/inheritance.
Permissible Debits
- All local payments in rupees including payments for investments in India as per stipulated guidelines.
- Remittance outside India of current income like rent, dividend, pension, interest, etc. in India of the account holder.
- Remittance up to USD one million, per financial year (April- March), for all bonafide purposes, to the satisfaction of the authorised dealer bank subject to conditions.
- Any other transaction if covered under general or special permission granted by the Reserve Bank.
