Can a person have both normal saving as well as NRI status bank account?
Any individual cannot hold both the status i.e. Non-resident as well as resident at the same time. Therefore, if the individual is an NRI, he needs to close normal saving account and open NRE/NRO or both accounts. If the individual is resident Indian, then he needs to have a resident saving account and close NRE/NRO accounts. Note: therefore no cheques drawn on resident saving account are accepted towards NRI account opening fees of ICICIdirect.
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