Repatriation

Repatriation is the process of transferring money from your NRI Bank Accounts (NRE, NRO & FCNR) to your overseas/foreign Bank Accounts. The process of repatriation from each NRI Bank Account is as follows:

Accounts Process Limit
NRE 1. ONLINE: 

 

  • Internet banking for outward remittance (sending money to your overseas account from your NRE account)

 

2. OFFLINE: Fill these 2 forms. 

(You can get them at the bank branch or download them online, sign them and send them to the bank branch in India via courier in case you are abroad.)

 

  • Bank Request Form: Enter foreign currency/inr amount to be repatriated, beneficiary bank details (the beneficiary name can be same or different)
  • Form A2 (Form for remittance)
No Limit
NRO All the following documents are needed to be submitted at the Bank Branch (in India). You can either submit it when you arrive here or download it online and send the signed copies to bank branch via courier:

 

  • Form 15CA (The purpose of this document is to ensure that taxes are collected on the funds before they are remitted abroad as it becomes difficult to recover taxes at a later stage) (Fill the form online on NSDL and print the acknowledgement)
  • Form 15CB (Certificate of an Accountant) (The Accountant fills the form and shares it with the account holder. The account holder then sends it to the bank via courier) 
  • Form A2 (Form for remittance)
  • Request Form from the Bank (for details to debit funds from your account)
USD 1 million
FCNR 1. ONLINE:

 

  • Internet banking for outward remittance (sending money to your overseas account from your NRE account)

 

2. OFFLINE: Fill these 2 forms. 

(You can get them at the bank branch or download them online, sign them and send them to the bank branch in India via courier in case you are abroad.) 

 

  • Bank Branch Form: Enter foreign currency/inr amount to be repatriated, beneficiary bank details (the beneficiary name must be same)
  • Form A2 (Form for remittance) which also includes Corresponding bank details (A mediator bank through which the funds will be transferred to the beneficiary bank account)
No Limit
Outward Remittance for NRI: Sending money abroad from India

Outward Remittance for NRI: Sending money abroad from India

81 views

Many Non-Resident Indians have money in India that they want to send abroad to their overseas account. Outward Remittance or Repatriation is the answer to the question “How can NRIs send money abroad from India?”. As we have established earlier under Non-Residents and their Bank Accounts that NRIs can maintain the income generated from India such as rent from property, pension, gains from investments etc. in their Non-Resident Ordinary (NRO) Account. Now, this money can be transferred to their overseas bank Account following the regulations of Reserve Bank of India (RBI). This process of sending the money generated in India to the overseas bank accounts of the NRIs is called Repatriation and the medium through which the funds are transferred is called Outward Remittance. In this article we will understand this medium of repatriation in detail

State Wise Quarantine Rules for NRI: COVID-19

State Wise Quarantine Rules for NRI: COVID-19

700 views

With the huge influx of NRIs returning to India as an effect of the ongoing pandemic, it becomes necessary to understand about the rules and regulations and have knowledge of the protocol associated with the state wise quarantine rules for NRIs. Already under its sixth phase, the Vande Bharat Mission has done a splendid job in reaching out to and bringing back every stranded & distressed Indian citizen around the world. What becomes essential here is understanding the next step and preparing to stay safe. In this article, let’s explore the state wise quarantine rules for NRIs as well as Resident Indians returning to India during this period.

Top 5 mediums for sending money abroad online: 2020

Top 5 mediums for sending money abroad online: 2020

197 views

With the never-ending need of sending and receiving money worldwide, there is one question that has baffled every individual before going through with the transactions. “What is the best medium for sending money abroad online?”