19 June 2022 4:54

How do I transfer regular savings to an NRE or NRO account?

Can I transfer funds from my NRO to an NRE / FCNR account? Funds from NRO account cannot be transferred to an NRE / FCNR account since funds in an NRO account cannot be repatriated outside India.

Can someone else transfer money to my NRO account?

In case of NRO account, the joint holder may be resident or non-resident. In case the remittance is being initiated by the resident joint account-holder or the mandate holder, the beneficiary must be the account holder/s. Mandate holder can only repatriate the current income from the NRO account.

Can anyone deposit cash in NRO account?

Yes, you can deposit cash in an NRO account after sharing the source of income of the money that you are depositing with the bank.

Can my mother deposit money in my NRO account?

Gift received from a close relative (your father qualifies as a close relative of the son) does not attract any tax as per Indian tax laws. Hence, your father can deposit the money directly into your NRO bank account or remit it to your US bank account.

Can I send money to NRO account?

Yes, you can transfer money from the USA to an NRO account in India.

Can my friend deposit money in NRE account?

Short answer: No, If you are talking about depositing in someones (including family members) NRE account, you can’t. If you have NRE account yourself then you can transfer the same directly from your NRE a/c to his NRE account directly. The way to deposit is by depositing is in his NRO account with required docs.