Loan Finance
Home » Personal Loan » Can NRI ask a resident to operate his NRE/NRO accounts on his behalf? – Types of accounts NRIs can hold

Can NRI ask a resident to operate his NRE/NRO accounts on his behalf? – Types of accounts NRIs can hold


Can NRI ask a resident to operate his NRE/NRO accounts on his behalf? – Types of accounts NRIs can hold

[ad_1]

A Power of Attorney holder cannot do the following acts :

1) Open and close NRI a/cs. in the name of NRI

2) Repatriate funds from a/c. in the form of DD/TT etc.., unless specified in P.A.

3) Give gifts.

4) Transfer funds to NRE accounts other than that of the principal.

5) Cannot raise loans/execute documents on behalf of NRI.

6) Cannot tender FC/FCTC.

[ad_2]

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Loan, Personal Loan, Home Loan, Business Loan, Loans in India, Loan Finance