PERMISSIBLE CREDIT/DEBIT POLICY OF NRI ACCOUNTS

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The permissible credit/debit policy of NRI accounts refers to the rules and regulations governing the use of credit and debit facilities by non-resident Indians.

NRI accounts have specific guidelines regarding the maximum amount of credit and debit allowed.
Credit facilities may include loans, overdrafts, and credit cards.
Debit facilities may include ATM withdrawals, online transactions, and check payments.
The permissible limits for credit and debit transactions vary based on factors such as the type of NRI account and the purpose of the transaction.
For example, NRI savings accounts may have lower credit limits compared to NRI current accounts.
The permissible credit/debit policy aims to ensure compliance with foreign exchange regulations and prevent misuse of funds by non-resident Indians.

PERMISSIBLE CREDIT/DEBIT POLICY OF NRI ACCOUNTS

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