Non-resident deposit accounts permit NRE, FCNR(B), NRO, SNRR and escrow arrangements through authorised banking channels. Authorised dealers may accept NRE and FCNR(B) deposits from non-resident Indians and NRO deposits from persons resident outside India under the applicable ... Summary
Non-resident deposit accounts permit NRE, FCNR(B), NRO, SNRR and escrow arrangements through authorised banking channels.
Authorised dealers may accept NRE and FCNR(B) deposits from non-resident Indians and NRO deposits from persons resident outside India under the applicable account schemes. Authorised banks may accept NRE and NRO deposits, while Regional Rural Banks may accept FCNR(B) deposits, subject to scheduled conditions. Persons resident outside India may maintain Special Non-Resident Rupee Accounts with authorised dealers in India or their overseas branches, including IFSC branches. Resident and non-resident acquirers may maintain escrow accounts subject to applicable conditions.
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