Account Opened by Foreign Nationals and Foreign Tourists

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....nagement Act, 1999, the accounts opened by foreign nationals who are resident in India are treated as resident accounts. Such accounts are at par with other resident Rupee accounts. 2. Can foreign nationals resident in India open resident account ? Yes. Foreign nationals resident in India can open and maintain resident Rupee account in India. 3. Should banks have a separate system to monitor r....

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....tionals be remitted? In terms of GOI Notification No.SO.301(E) dated March 30, 2001, banks are free to allow remittance for maintenance of close relatives abroad not exceeding net salary (after deduction of taxes, contribution to provident fund and other deductions) of a person who is resident but not permanently resident in India and is a citizen of a foreign state other than Pakistan. 6. Can f....