Can NBFCs accept deposits from NRIs?
#1
Effective from April 24, 2004, NBFCs cannot accept deposits from NRI except deposits by debit to NRO(Non resident Ordinary Rupee Account) account of NRI provided such amount do not represent inward remittance or transfer from NRE(Non-Resident External Account)/FCNR (B)( Foreign Currency Non Resident Account ) account.

However, the existing NRI deposits can be renewed.
Reply



Possibly Related Threads…
Thread Author Replies Views Last Post
  Can all NBFCs accept deposits? neetubm 4 8,034 04-20-2015, 12:43 PM
Last Post: sssheokand
  NBFCs - exempted from registration neetubm 1 7,262 11-10-2013, 11:00 PM
Last Post: anasuryad
  Rate of interest payable by RNBCs on deposits and maturity period of deposits neetubm 0 5,636 01-26-2010, 01:03 PM
Last Post: neetubm
  Safety with deposits of RNBC neetubm 0 6,337 01-26-2010, 01:02 PM
Last Post: neetubm
  Responsibilities of the NBFCs neetubm 0 5,337 01-26-2010, 12:40 PM
Last Post: neetubm
  NBFC – cannot accept public deposit, if not rated. neetubm 0 6,926 01-26-2010, 12:21 PM
Last Post: neetubm
  What are the regulations relating to acceptance of deposits by NBFCs? neetubm 0 5,917 01-26-2010, 11:55 AM
Last Post: neetubm
  Acceptance of Public Deposits by NBFC's Ceiling and Interest neetubm 0 9,589 01-26-2010, 11:52 AM
Last Post: neetubm
  The different types of NBFCs registered with RBI neetubm 0 5,187 01-26-2010, 11:32 AM
Last Post: neetubm
  Difference between banks & NBFCs neetubm 0 18,021 01-26-2010, 11:21 AM
Last Post: neetubm



Users browsing this thread:
1 Guest(s)

Powered By MyBB, © 2002-2024 Melroy van den Berg.