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Me and my friend live in Mexico. He has borrowed some money from me in Mexico Currency. Now he wants to return that money in India Currency. So just wanted to check is it possible if he can transfer borrowed money from his India NRE account to my India NRE account which he had taken in Mexico in Mexican Currency? Is it legal?

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  • Indian NRE Accounts cannot get incoming local transfers in Rupees. You can only technically send money IN an NRE from a foreign currency converted to INR.
    – DavChana
    Nov 19, 2023 at 22:53

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Yes, NRE to NRE/Resident-Savings account is allowed like other transactions regardless of self or friend's account.

Reference : https://sbnri.com/blog/nri-bank-accounts/how-to-transfer-money-to-nre-account

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