What is a NRE account?
A NRE bank account is an external saving bank account opened for Non resident Indians. This is why it is known as Non-Resident External account. Since it is an external account, any funds lying in NRE account can be taken outside the country or in other words, the funds lying in NRE account are fully repatriable. This money can be converted into any foreign currency at the behest of the account holder and can be remitted outside the country. This account can be used for investment in IPO/Mutual Fund.
It is an account, wherein any monies lying in it can be taken outside the country or can be repatriated. This money can be converted into any foreign currency at the behest of the account holder and can be remitted outside the country. Q4. What is a NRO account? It is an account, wherein any monies lying in it cannot be taken outside the country or cannot be repatriated. This money cannot be converted into any foreign currency at the behest of the account holder and cannot be remitted outside the country. In other words the monies lying in this account can be utilized or remitted within India only. Q5. Can NRIs invest in shares in India? Yes, NRIs are permitted to make direct investments in shares in India. This facility is granted both on repatriation and non-repatriation basis to NRIs. Q6. How can NRIs invest in shares in India? As per RBI guidelines, to be able invest in Shares an NRI will be required to open a PIS (Portfolio Investment Scheme) account with a designated bank in Indi
A NRE bank account is an external saving bank account opened for Non resident Indians. This is why it is known as Non-Resident External account. Since it is an external account, any monies lying in NRE account can be taken outside the country or in other words, the monies lying in NRE account are fully repatriable. This money can be converted into any foreign currency at the behest of the account holder and can be remitted outside the country.
