Repatriability of NRI deposit accounts determines permissible transfers and withdrawal rights across account types. FCNR(B), NRE and NRO accounts differ by currency, permissible account types and repatriability: FCNR(B) are foreign currency term deposits; NRE and NRO ... Summary
Repatriability of NRI deposit accounts determines permissible transfers and withdrawal rights across account types.
FCNR(B), NRE and NRO accounts differ by currency, permissible account types and repatriability: FCNR(B) are foreign currency term deposits; NRE and NRO are rupee accounts with savings, current and deposit options. Joint accounts and nominations are allowed. FCNR(B) and NRE balances are repatriable; NRO balances are not freely repatriable except for current income and limited bonafide transfers subject to prescribed conditions. Interest rates and deposit tenors vary with bank discretion and applicable caps.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 
