Response to this Question

    It is recommended that 'A' should execute a power of Attorney (general or special) in favour of a trusted friend/ relative/ professional to undertake certain transactions on his behalf. The power of attorney holder can operate bank account for local disbursement (for expenses) but can not make remittance outside India nor can make a gift or extend a loan to any person Resident in India / Resident outside India. In case of NRO account, joint account with a resident is permitted. Accordingly, in such a case, a power of Attorney need not be executed for operation of bank account if there is a joint account holder.


Date : 17-Nov-2019 

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