format of Transfer of Funds from NRO a/c to NRE a/c within the overall limit at USD 1 million per financial year


 To
The Branch Manager
Dear Sir,
Transfer of Funds from NRO a/c to NRE a/c within the overall limit at USD 1 million per financial year
I/We, am/are maintaining the following NRO Term Deposit accounts with your Branch
SL.NO
Account Number
Date Of Deposit
Principal Amount
 Tenure Of   Deposit
I/We request that the NRO Deposits may be converted to NRE Deposits as per Reserve Bank Of India notification. I herewith confirm that the above transfer is in conformity with directions issued by Reserve Bank Of India vide circular No. RBI/2011-12/536A.P (DIR Series) Circular No 117 dated May 07, 2012, regarding the eligibility of transfer of funds subject to USD one million in a financial year from NRO account to NRE account.
I/We certify that all the NRO deposits were opened from NRE deposits or by conversion of FCNR deposits and all the related taxes are paid upon this NRO deposits. I/We confirm that I/we still maintain NRI status. I/we also certify that the total amount converted by me/ us to NRE account from NRO account is within the overall, ceiling limit of USD 1 million during this financial year including all  the transfers done from any Bank branch in India.
Yours faithfully
Name
Signature of depositor/s
Place:
Date  :

Leave a Reply

Your email address will not be published. Required fields are marked *