What are the facilities available to NRIs, PIO for investments in India?
Ø Banks Accounts and Deposits Ø Other Investments on Repatriation Basis Can NRI open a bank account? You can maintain an account with the banks that are authorized dealers (i.e., those who can deal in foreign exchange) and those which have been authorized on this behalf by the Reserve Bank of India. You can maintain accounts in rupees as well as foreign currency. Foreign currency accounts can be maintained with authorized dealers only. How can a NRI open a bank account? Non Resident Indians (NRIs) including persons of Indian origin and overseas corporate bodies (OCBs) are permitted to open bank accounts without prior approval of Reserve Bank of India (RBI). However, the RBI permission is necessary to open accounts for Pakistanis and Bangladesh nationals, even if they may be covered under persons of Indian origin. Indian nationals and persons of Indian origin residing abroad can open the following types of accounts with authorised Banks out of the funds remitted from abroad or out of Fo
