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Mandate Letter Form

This letter serves as a mandate for an NRI savings/current account holder to operate their account through a local resident. It authorizes the resident to (1) honor all cheques drawn on the account for local disbursements, (2) make investments on behalf of the NRI account holder by signing bills, notes, cheques, or other negotiable instruments, and (3) operate the account for necessary investments. The mandatee must comply with RBI and government regulations. The NRI account holder agrees to bear any losses that arise from the bank acting on this instruction until it is revoked in writing.

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10K views2 pages

Mandate Letter Form

This letter serves as a mandate for an NRI savings/current account holder to operate their account through a local resident. It authorizes the resident to (1) honor all cheques drawn on the account for local disbursements, (2) make investments on behalf of the NRI account holder by signing bills, notes, cheques, or other negotiable instruments, and (3) operate the account for necessary investments. The mandatee must comply with RBI and government regulations. The NRI account holder agrees to bear any losses that arise from the bank acting on this instruction until it is revoked in writing.

Uploaded by

Desikan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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LETTER OF MANDATE

For NRI Account Holders

Place ____________
Date ____________ Mandates
Photo duly
sign across
the face
The Branch Manager
HDFC Bank
________ Branch

Dear Sir,

Re : Mandate to operate NRI Savings/ Current account number _________

I/ We refer to the above mentioned NRI savings/ current account no


_________________ at your bank in the name/s of
________________________________________, residing at
____________________________________________________________
and I/ We hereby request you to take this letter as a standing instructions /
mandate for :
- honouring all cheques drawn on the said account and instruction for local
disbursements only by ________________________________________
resident of ___________________________________________________,
not withstanding that such cheques may create an overdraft or increase it to
any extent.

- authorise Mr./ Ms…………… ("the said person" ) on my/ our behalf to


make, draw, endorse, accept or otherwise sign any bills of exchange,
promissory notes or other negotiable instruments and to discount the same
with your bank or otherwise and also to make, draw, endorse or sign cheques
or any other negotiable instrument of any description for investment in
shares, debentures, fixed deposits, bonds, units and operate the account
for making necessary investment and I/ we hereby ratify and bind my self /
ourselves and confirm to all and whatever instructions the said person has
given on my/our behalf .

Signature of Account Holder (s)_________


The mandatee shall however, while acting under this mandate ensure
that he / she acts in accordance with the instructions and directions that
may be issued from time to time by the Reserve Bank of India or the
Government of India or any other body or authority.

I / We agree to bear any losses, claims that may arise directly or indirectly
on account of the Bank acting on this instruction/ mandate and the
instruction given thereof by the said person .

This authority shall continue in force until I/ We shall have expressly


revoked it by a notice in writing delivered to you.

Yours Faithfully,

Account Holder (s)

Specimen signature of the Mandate holder

______________________

Above signature verified by account holder(s)

______________________

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