Repatriation of funds from NRE/NRO Account

Nri Legal Services20 Jun, 2024Legal

NRIs open NRE/NRO account to manage their funds and for the purpose of repatriation of funds they use these accounts to deposit foreign income or income accruing in India. Repatriation from these accounts means remitting the funds to the country of residence of NRI. The repatriation of funds can be repatriated to the foreign account of customer only and not to any other person?s account. The sending bank generally requires a declaration to be signed by the customer that it is not responsible for any fees charged by the beneficiary bank. It is advised to take help of a financial advisor for choosing the appropriate repatriation service.