Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is FCNR account?

April 26, 2017account FCNR

0

Posted

What is FCNR account?

2 Answers

0

Posted

It is a term deposit account in foreign currency. It is also referred as FCNR (B) account.

0

Posted

Ans. FCNR account is an account designated in foreign currencies viz., U.S. Dollar, Pound Sterling, Japanese Yen, Euro, Canadian Dollar and Australian Dollar or any other currency designated by the Reserve Bank.