Whether Nepalese/Bhutanese settled in a country of Bi-lateral group can open NRE-non convertible account?
Nepalese/Bhutanese of non resident origin are neither covered under non resident Indian Nationals nor persons of Indian origins, so they are not eligible to open the account. • Can authorized dealer open NRE convertible and non-convertible accounts of the same person residing in erstwhile Bi-lateral group of countries if he has remitted funds in convertible and non-convertible currencies respectively? RBI has permitted to open non-convertible NRE account of any person settled in erstwhile. Bilateral group of countries but authorized dealers are also permitted to open separate convertible NRE accounts of the same person provided such account is opened with freely convertible currency. • An Indian Resident maintaining a saving bank account in the branch for the last 3 years. He requests the branch manager to open SB-NRE account in the name of his son Ramesh Kumar residing in England and submits account opening from duly introduced by himself alongwith photograph signed across on the acco
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