Saturday, October 11 2008 Home arrow NRI News arrow Non-Resident Ordinary Rupee (NRO) Account

 
 
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Non-Resident Ordinary Rupee (NRO) Account PDF Print E-mail

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Any person or entity residing outside India is entitled to open a NRO account with an authorised dealer or an authorised bank for transactions conducted in Indian Rupees.
Individuals or entities of Bangladeshi or Pakistani nationality or ownership require approval from the RBI.
Types of Accounts
NRO accounts can be opened as current, savings, recurring or fixed deposit accounts. The RBI determines the rate of interest on these accounts and issues guidelines for opening, operating and maintaining them....

Any person or entity residing outside India is entitled to open a NRO account with an authorised dealer or an authorised bank for transactions conducted in Indian Rupees.
Individuals or entities of Bangladeshi or Pakistani nationality or ownership require approval from the RBI.
Types of Accounts
NRO accounts can be opened as current, savings, recurring or fixed deposit accounts. The RBI determines the rate of interest on these accounts and issues guidelines for opening, operating and maintaining them.

Joint Accounts with Residents/Non-residents
Joint accounts are permitted with resident and non-residents.

 


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