Can NRI repatriate funds from NRO accounts?

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NRO bank accounts are non-repatriable accounts by their legal nature. However, RBI has permitted repatriation from NRO account up to USD 1 million per financial year subject to certain documentation requirements.

The principal amount in the NRO bank account is not repatriable; however, the interest earned is freely repatriable post deduction of taxes. The limit of USD 1 million applies to other balances accumulated in NRO accounts by way of Indian income or from the sale of the financial asset or immovable property.

Topic: NRI Repatriation Defenition

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