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What is the distinction among NRE and NRO Accounts?

April 26, 2017accounts NRE nro

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What is the distinction among NRE and NRO Accounts?

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Balances held in NRE accounts can be repatriated abroad freely, while funds in NRO accounts cannot be remitted abroad but have to be used only for local payments in rupees. Funds due to the non-resident accountholder which do not qualify, under the Exchange Control regulations, for remittance outside India are required to be credited to NRO accounts.