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of <h1>Bangladesh and Pakistan Nationals Need RBI Approval to Open Accounts in India; Conditions Apply Under FEMA 5(R)/2016-RB.</h1> Individuals or entities from Bangladesh or Pakistan require prior approval from the Reserve Bank of India to open accounts in India. Bangladeshi individuals can open NRO accounts with a valid visa and residential permit. Citizens from these countries belonging to minority communities in India with a Long Term Visa (LTV) or pending LTV applications can open one NRO account with an Authorized Dealer bank, subject to conditions in Notification No. FEMA 5(R)/2016-RB. The details of these accounts must be reported quarterly to the Ministry of Home Affairs as per AP (DIR Series) Circular No. 28.
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