Supreme Universal | Real Estate Developer | Property in Pune & Mumbai

NRI Banking

NRIs/OCBs (Overseas Corporate Bodies) can open the following types of accounts with banks in India, which hold authorized dealer licenses, as also other banks, specifically authorized by the Reserve Bank to maintain accounts in the names of NRIs/OCBs.

  • Rupee Accounts
    • Non-Resident (Ordinary) Account - NRO A/c.
    • Non-Resident (External) Rupee Account - NRE A/c.

  • Foreign Currency Accounts
    • Non-Resident (Foreign Currency) Account - FCNR A/c (in Pounds, Sterling, US Dollars, Japanese Yen and Euro).

NOTE: A person, resident in India, who is earning foreign exchange, is also permitted to maintain a Foreign Currency account in India with an authorized dealer bank, to the extent of 50% of such foreign exchange earnings, under the Exchange Earners Foreign Currency Account (EEFC) Scheme.