Transferring funds from an NRI's Indian bank account to the bank of their residence country is known as repatriation. NRIs can hold different types of bank accounts with RBI (Reserve Bank of India)-authorized dealers/banks, including Non-Resident External (NRE), Non-Resident Ordinary (NRO), and Foreign Currency Non-Resident (FCNR) accounts. There is no general limitation on repatriating fu n ds from an NRE account. Funds in an NRE account are freely repatriable, meaning they can be transferred back to the NRI's residence country without any restrictions. However, there are limitations on remitting funds from an NRO account. An NRO account is meant to manage income earned in India by the NRI, such as rental income, dividends, or pension income. As per current regulations, up to 1 million USD per financial year can be remitted from the NRO account, subject to the submission of necessary documents and compliance with the Reserve Bank of India's guidelines. The exact process...
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