Dear One Goans, This may be a very helpful information to all Goans who are having NRNR Accounts. Thanks Egbert Correia
Reserve Bank of India vide A.P.(DIR Series) Circular No 28 dtd March 4, 2002 have notified the closure of NRNR and NRSR schemes w.e.f. 1st April, 2002 2.01 From 1st April, 2002 NRNR ( Non Resident Non Repatriable ) deposits are fully repatriable. 2.02 Existing balances of NRNR deposits will be allowed to be continued upto the date of maturity and upon maturity the same shall be credited to the person's Non Resident (External) Account. Natural consequence is that banks will not open any NRNR account from 1st April, 2002 being a renewal or a fresh deposit. 3.01 It is also proposed to discontinue NRSR (Non Resident (Special) Rupee) account schemes w.e.f. 01/04/2002. . 3.02 Existing NRSR maturing before 30th September, 2002 shall not be renewed.As re: existing NRSR accounts [other than fixed deposits ] as on 30th September,2002,an NRI will have option to close the account and transfer the balance to his NRO account.Otherwise Banks will be required to close such accounts on 30th September,2002 and transfer the balance to NRO account. 3.03 Re. deposits maturing on or after 30th September, 2002,upon maturity, account holder will have an option to close the account and transfer his balance to NRO account. 4.04 As in case of NRNR deposits, no new NRSR account will be opened from 1st April, 2002 by way of renewal or as a fresh deposit. Source : www.nribanks.com =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-W-E-B---S-I-T-E-=-=- To Subscribe/Unsubscribe from GoaNet | http://www.goacom.com/goanet ================================================================== For (un)subscribing or for help, Contact: [EMAIL PROTECTED] Dont want so many e=mails? Join GoaNet-Digest instead ! =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- Help support non-commercial projects in Goa by advertizing!! * * * * Your ad here !!
