What types of bank accounts can NRIs/OCBs open in India?
NRIs/OCBs can open the following types of accounts with banks in India, which hold authorized dealer licenses, as also other banks, specifically authorized by the Reserve Bank to maintain accounts in the names of NRIs/OCBs. Rupee Accounts 1. Non-Resident (Ordinary) Account – NRO A/c. 2. Non-Resident (External) Rupee Account – NRE A/c. Foreign Currency Accounts Non-Resident (Foreign Currency) Account – FCNR A/c This type of account can be hosted in Pounds, US Dollars, Japanese Yen and Euros.
