NRO account definition

NRO account means a Non-resident ordinary deposit account referred to in Foreign Exchange Management (Deposit) Regulations, 2000, as amended from time to time.
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NRO account means a Non-Resident Ordinary account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016;
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NRO account means a Non-Resident Ordinary account referred to in clause (iii) of sub-regulation (1) of Regulation 5;
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Examples of NRO account in a sentence

  • Non Repatriation basis: NRIs investing on a non repatriable basis may do so by issuing cheques/ demand drafts drawn on Non- Resident of India (NRO) account payable at the cities where the Investor Service Centres are located.

  • Payment of interest as also the repayment of deposit shall be made only by credit to NRO account with banks.

  • In case of Indian rupee dras purchased and subscriptions through NRIs / FCNR account, an account debit certificate from the bank issuing the dra confirming the debit should also be enclosed.Non Repatriation basis:NRIs investing on a non repatriable basis may do so by issuing cheques/ demand drafts drawn on Non-Resident of India (NRO) account payable at the cities where the Investor Service Centres are located.

  • In the case of NRIs/PIOs/OCIs, payment may be made either by inward remittance through normal banking channels or out of funds held in the NRE / FCNR in the case of purchases on a repatriation basis or out of funds held in the NRE / FCNR / NRO account, in the case of Purchases on a non-repatriation basis.

  • NRIs or Persons of Indian origin residing abroad investing on a non-repatriable basis may do so by issuing cheques/demand drafts drawn on Non-Resident Ordinary (NRO) account payable at the cities where the Customer Service Centres are located.

  • Non-Repatriation basis:- NRIs investing on a non repatriable basis may do so by issuing cheques drawn on Non-Resident Ordinary (NRO) account payable at the cities where the Investor Service Centers are located.

  • In case of investment on non-repatriation basis, the sale proceeds shall be credited to NRO account.

  • In case of NRI, if the shares sold were held on repatriation basis, the sale proceeds (net of taxes) may be credited to his NRE /FCNR(B) accounts and if the shares sold were held on non repatriation basis, the sale proceeds may be credited to his NRO account subject to payment of taxes.

  • Fresh Foods is a limited liability company duly organized and validly existing under the laws of North Carolina, with all power and authority necessary to conduct its business as it is now being conducted and to own or lease its properties and assets.

  • If the shares are purchased on non-repatriation basis, the NRIs can also utilise their funds in NRO account in addition to the above.


More Definitions of NRO account

NRO account means Non Resident Ordinary Account as defined and explained under the Foreign Exchange Management Act, 1999 and as updated from time to time.
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Related to NRO account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Investment Account As defined in Section 3.12(a).

  • Holding Account means an account:

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Regular account means the account established for each active and inactive member un-

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Separate Accounts means the accounts which are to be prepared for each

  • Purchase Account means the account so designated in each Purchase and Remarketing Fund.