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BANKER's CORNER - RETURNING INDIAN BANK ACCOUNTS |
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| Bankers need to take a microscopic view dealing with returning NRI's bank accounts as the rules differ from account to account - say an FCNR(B) can be continued till maturity whereas NR(E) a/cs are immediately required to be transferred to RFC a/c. or be redesignated as resident a/c. and ofcourse NRO a/cs. are to be converted to Resident a/cs | ||
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NON-RESIDENT (EXTERNAL)- [NR(E)] | |
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FOREIGN CURRENCY NON RESIDENT (B) - [FCNR(B)] | |
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NON-RESIDENT (ORDINARY) DEPOSIT -[ NRO] | |
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NON-RESIDENT (NON-REPATRIABLE) - [(NRNR) upto 01/04/2002] | |
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NON-RESIDENT (SPECIAL) RUPEE - [(NRSR) upto 01/04/2002] | |
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RESIDENT FOREIGN CURRENCY A/c.[RFC] | |