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.
Sample 1Sample 2Sample 3
NRO account means a Non-Resident Ordinary account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016;
Sample 1Sample 2Sample 3
NRO account means a Non-Resident Ordinary account referred to in clause (iii) of sub-regulation (1) of Regulation 5;
Sample 1Sample 2Sample 3

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.

  • 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.

  • 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.

  • 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.

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

  • 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.

  • 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.
Sample 1

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).

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Holding Account means an account:

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

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • 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 registration system of all Completed Transactions, Open Positions, Orders and deposit/withdrawal transactions in the Trading Platform.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • 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-

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

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

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • 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.