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of <h1>Understanding SNRR and NRO Accounts: Key Differences and Regulatory Requirements Under FEMA</h1> An SNRR account is a Special Non-Resident Rupee Account for non-residents with business interests in India, allowing transactions in rupees under FEMA regulations. It differs from an NRO account, which is for non-residents to manage income earned in India. SNRR accounts are non-interest bearing, have a tenure linked to the business contract, and are repatriable. NRO accounts can be interest-bearing, have no tenure restrictions, and are not fully repatriable, except for current income and certain remittances. Opening accounts for nationals of Pakistan and Bangladesh requires Reserve Bank approval, with specific conditions for minority communities.
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