Non-Resident Ordinary Rupee (NRO) Account Statutory provisions are contained in schedule 3 of Foreign Exchange Management (Deposit) Regulations, 2000. RBI has issued Master Circular No. 2/2014-15 dated 1-7-2014 on ‘Non-Resident Ordinary Rupee (NRO) Account’ [earlier Master Circular No. 2/2013-14 dated 1-7-2013], consolidating all instructions relating to NRO account. RBI has issued master circular DBOD No.… Read More »
Non-Resident (External) Rupee Account Scheme (NRE) The amount (principal as well as interest) is freely repatriable. Transfer from/to FCNR(B) account is freely permitted. Statutory provisions are contained in schedule 1 of Foreign Exchange Management (Deposit) Regulations, 2000. The provisions are summarised below— Form of account – The accounts may be maintained in any form, e.g.… Read More »
Cos. issuing ESOP to NR employees to furnish return to RBI in Form-ESOP within 30 days of their issuance ISSUE OF SHARES UNDER EMPLOYEES STOCK OPTIONS SCHEME AND/OR SWEAT EQUITY SHARES TO PERSONS RESIDENT OUTSIDE INDIA A.P. (DIR SERIES 2015-16) CIRCULAR NO.4, DATED 16-7-2015 Attention of Authorised Dealer Category – I (AD Category-I) banks is… Read More »