If person becomes NRI in this year and have balance in his Savings AC. Once he become NRI all his bank ac be converted into NRO AC.
Q- Balance in this NRO AC is subject to same restrictions like Repatriation restrictions, investment restrictions, loan restrictions as provided in Regulation? I am asking because this is the balance in the account when he was Reaident.
Answer: Yes. Balance in this NRO AC is subject to same restrictions like Repatriation restrictions, investment restrictions, loan restrictions as provided in Regulation
Q- Balance in this NRO AC is subject to same restrictions like Repatriation restrictions, investment restrictions, loan restrictions as provided in Regulation? I am asking because this is the balance in the account when he was Reaident.
Answer: Yes. Balance in this NRO AC is subject to same restrictions like Repatriation restrictions, investment restrictions, loan restrictions as provided in Regulation