What about debits to FCNR accounts for local payments?
Debits for local payments in rupees are allowed freely. As regards debits for investments in India, please see Chapters III and IV.

Are funds in FCNR accounts freely repatriable abroad?
Yes. Authorised dealers maintaining these accounts would allow repatriation abroad of these funds.

Can FCNR deposits be held jointly with residents?
No.

Is nomination allowed in FCNR accounts?
Yes.

Is repatriation of FCNR funds to non-resident nominees permitted?
Yes. (Also see answer to Q.27 for repatriation of funds in NRE account)

What is the status of FCNR accounts on the return of the account holder to India?
Banks would treat the deposits held in FCNR accounts as resident deposits but would continue to pay interest at the contracted rate till maturity of the deposit.