....India’s decision allowing non-resident Indians to transfer funds from non-resident ordinary (NRO) to non-resident external (NRE) account, subject to certain conditions, is seen as a “positive development” by many of its countrymen in Qatar. In a circular issued on May 7, the Reserve Bank of India (RBI) clarified that NRIs would be allowed to transfer funds from NRO to NRE account subject to a ceiling of $1mn in one financial year and payment of tax......................
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