Regulation 7 - Remittances out of the Account After the Account Holder's Death - Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015

Remittances out of the Account After the Account Holder s Death:- 7. On the death of a foreign currency account holder, - (a) the authorised dealer with whom the account is held or maintained may remit to a nominee being a person resident outside India, funds to the extent of his share or entitlement from the account of the deceased account holder; (b) a nominee being a person resident in India, who is desirous of remitting funds outside India out of his share for meeting the liabilities abroad of the deceased, may apply to the Reserve Bank for such remittance; (c) A resident nominee of an account held outside India in accordance with Regulation 5 shall close the account and bring back the proceeds to India through banking channels.