Overdraft limit against NRE and FCNR Deposits enhanced to Rs.100 Lakhs against the previous overdraft limit of Rs.20 Lakhs.
Proceeds of demand drafts/ banker's cheques issued against encashment of foreign currency can be credited to NRE accounts where such instrument issued is supported by an Encashment Certificate issued by AD category I/ category II (Authorised Money Changers).
Remittance facility is available upto USD 1 million per financial year subject to prescribed documentation.
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