- BBK handles all your outward remittances abroad via SWIFT with finer exchange rates. BBK has wider network coverage across the globe with all Major Foreign Banks for remittances in different active currencies.
- All your Rupee payments will be taken care of by multi-remittance channels through BBK.
Remittance facilities for Non Resident Indians (NRIs) / Persons of Indian Origin (PIO) and Foreign Nationals
Remittance of Current Income
Remittance of current income like rent, dividend, pension, interest, etc. of NRIs/PIO maintaining NRO Account with BBK will be facilitated as per extant FEMA guidelines and appropriate certification by a Chartered Accountant certifying that the amount proposed to be remitted is eligible for remittance and that applicable taxes have been paid / provided for.
NRIs/PIO have the option to credit the current income to their Non-Resident (External) Rupee account, provided the authorized dealer bank is satisfied that the credit represents current income of the non-resident account holder and income tax thereon will be taken care by the NRI/PIO as per prevailing Tax rules of India and permissible limit.
Remittance Of Assets By A Foreign National Of Non-Indian Origin
- A foreign national of non-Indian origin who has retired from an employment in India or who has inherited assets from a person resident in India or who is a widow of an Indian citizen who was resident in India, may remit an amount not exceeding USD one million or as per extant guidelines of RBI at the time of remittance, per financial year (April-March), on production of documentary evidence in support of acquisition / inheritance of assets, an undertaking by the remitter and certificate by a Chartered Accountant in the formats prescribed by the Central Board of Direct Taxes vide their Circular No.10/2002 dated October 9, 2002 or as amended from time to time.
- These remittance facilities are not available to citizens of Nepal and Bhutan.
Remittance Of Assets By NRI/PIO
- NRI/PIO may remit sale proceeds of immovable property purchased by him out of Rupee funds (or as a person in India) as indicated above as per extant guidelines and allowance of RBI at the time of remittance.
- The remittance facility in respect of sale proceeds of immovable property is not available to citizens of Pakistan, Bangladesh, Sri Lanka, China, Afghanistan, Iran, Nepal and Bhutan Extant guidelines may change from time to time.
- The facility of remittance of sale proceeds of other financial assets is not available to citizens of Pakistan, Bangladesh, Nepal and Bhutan. Extant guidelines may change from time to time. Hence you may please contact the branches for more details.
Repatriation Of Sale Proceeds Of Residential Property Purchased By NRIs / PIO Out Of Foreign Exchange
- Authorised dealer banks ( Bank of Bahrain and Kuwait ) are permitted to handle repatriation of amounts, you may please get in touch with branch or RM of your account for extant guidelines.
Repatriation Of Maturity Proceeds Of FCNR (B) Deposits
- Bank of Bahrain and Kuwait is one of the authorised banks permitted to make remittance of the maturity proceeds of FCNR (B) deposits to the depositor or the mandated beneficiary by the depositor as per FEMA guidelines for outward remittance under cross border remittance scheme.
ESOP to NRI Employees
- Authorised dealers are permitted to grant Rupee loans to NRIs employees of Indian companies for acquiring shares of the companies under the ESOP Scheme. The loan scheme shall be as per the policy approved by the bank’s Board and would further be subject to the conditions indicated in AP (DIR Series) Circular No. 7 dated August 22, 2007 or as amended from time to time. For more details please reach out to us through branches or respective RMs.
Facilities For Students
Students going abroad for studies are treated as Non- Resident Indians (NRIs) and are eligible for all the facilities available to NRIs under FEMA.
As Non-Residents, they will be eligible to receive remittances from India as per applicable purpose of remittances and extant guidelines.
All other facilities available to NRIs under FEMA are equally applicable to the students.
Educational and other loans availed of by them as residents in India will continue to be available as per FEMA regulations.
Fees & Charges
Download Forms
Please refer the detailed Schedule of charges.
Contact Us
- Please visit our nearest branch or write to us at [email protected].
