Non-Resident bank account (NRE)
About 6 years ago my wife a home maker opened a bank account in India. Non-Resident External account, i work abroad in a University, and was sent all money savings in her name to the NRE account which were converted in recurring fixed deposits (have the NRE account number with her name, my name as a nominee)
I remember sending copies of my passport, employment offer/work permit for account opening purpose, and even signing the application.
Due to family/matrimonial dispute now, wife is claiming that she will not return the money it belongs to her. I am not sure if the NRE is joint, or individual or i have given her a power of attorney. In a good faith/trust i had not asked or inquired the details of account, but now regret that, i should have been more careful.
My questions to the experts:
1) Can a non-working dependant wife open an NRE account?
2) If dependant wife could open NRE account, is there a legal means to recover the money from wife.
3) If the bank has wrongly opened an NRE account to non-eligible person or colluded with account holdee, can i take a legal recourse against the bank.
According to Reserve Bank of India guidelines, an NRI working abroad, can open account, single or jointly with another NRI. NRE account holder has to declare the sources of funds.I have all the bank electronic transfer receipts as evidence. I can even take a bank statement from the bank from where i had remitted the money.
Looking forward for the reply