Economics · Non-Resident External (NRE) Accounts
Consider the following statements regarding permissible credits into a Non-Resident External (NRE) account in India: Statement I: Any amount of cash in Indian Rupees can be credited to an NRE account provided the account holder gives a self-declaration that it was earned legitimately in India. Statement II: Proceeds of personal cheques drawn on the account holder's foreign bank account and mailed directly to the bank in India are permissible credits. Statement III: Transfers from another NRE or FCNR(B) account maintained by any other NRI with an Authorized Dealer in India are permitted. Which of the statements given above correctly identify permissible credits into an NRE account?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only II and III✓
- 3Only I and III
- 4Only I
Correct answer
Only II and III
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