SNRR accounts enable non-resident rupee transactions while imposing non-interest, repatriation, tax, reporting and approval safeguards.

SNRR accounts may be opened by persons resident outside India with authorised dealers for permissible current and capital account transactions with Indian residents and bona fide transactions with non-residents. Operations cannot provide foreign exchange to Indian residents against rupee reimbursement, and accounts cannot bear interest. Indian balances are repatriable, transactions attract applicable Indian taxes, and reporting obligations apply. NRO-to-SNRR transfers are governed by applicable NRO account conditions. Prior approval is required for account opening by Pakistan and Bangladesh nationals or entities incorporated in those countries.

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