R e p a t r i a t i o n of maturity proceeds of FCNR(B) DEPOSITS

It has been decided to allow Authorised Dealer Category–1 banks and authorised banks to permit remittance of the maturity proceeds of FCNR (B) deposits to third parties outside India, provided the transaction is specifically authorised by the account holder and the authorised dealer is satisfied about the bonafides of the transaction.