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Are FCNR Accounts permitted to be maintained in the form of Current / Saving Accounts?

April 26, 2017accounts FCNR form maintained permitted Saving

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Are FCNR Accounts permitted to be maintained in the form of Current / Saving Accounts?

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No. FCNR Accounts can be maintained only in the form of “term deposit” i.e. a deposit kept for a fixed period or which is subject to withdrawal or repayment after notice.