I have been investing in Fidelity Equity Fund - Dividend payout (now L&T) since it's inception. All dividends declared were directly credited to my ICICI bank NRE account.
But for the latest dividend (after L&T took over) which was declared in March 2013 the direct credit was refused by ICICI, reason given (to fund house) as DIRECT CREDIT TO NRI account. After that L&T have sent me a A/C payee cheque (PAYINST DRAFT??) with my NRI account number and details mentioned on it.
1) Can I deposit this into my ICICI bank NRE Account since the funds were remitted from abroad?
2)If for some reason I cannot deposit it within the 3 months validity mentioned on the cheque, will it be a problem later on to get a new cheque from the fund house? (since I am not in India now)
Please advise
Thanks
Rohan
But for the latest dividend (after L&T took over) which was declared in March 2013 the direct credit was refused by ICICI, reason given (to fund house) as DIRECT CREDIT TO NRI account. After that L&T have sent me a A/C payee cheque (PAYINST DRAFT??) with my NRI account number and details mentioned on it.
1) Can I deposit this into my ICICI bank NRE Account since the funds were remitted from abroad?
2)If for some reason I cannot deposit it within the 3 months validity mentioned on the cheque, will it be a problem later on to get a new cheque from the fund house? (since I am not in India now)
Please advise
Thanks
Rohan
