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What is a Resident Foreign Currency Account? 2013-09-30 06:18:49
Returning NRIs /PIOs may open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to transfer balances held in NRE/FCNR (B) accounts. Proceeds of assets held outside India at the time of return can...
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Read MorePros and Cons - External Account for Non Resident 2013-09-30 05:56:25
Persons of Indian nationality or origin residing outside of India may open, with authorised banks in India, Non-resident External Accounts (NRE Accounts), designated in rupees. These accounts can be in savings, current, or term deposit accounts. Opening of NRE Accounts...
Keywords: Non Resident External Account—Pros and Cons, Non Resident External Account—Pros and Cons, Non Resident External Account—Pros and Cons, Non Resident External Account—Pros and Cons
Read MoreQuick Guide to Open Resident Foreign Currency Account for Returning NRI 2018-12-31 04:47:48
A returning Non-Resident Indian (NRI) would have assets and bank accounts abroad, as well as income generated from these assets would be in a foreign currency. According to the report, a returning NRI has the option of bringing the funds...
Keywords: types of foreign currency account, fcnr account, nre account, foreign currency non resident account
Read MoreRFC Savings Account in ICICI Bank 2013-09-30 05:39:29
What is an RFC Savings Account? An RFC (Resident Foreign Currency) Savings Account is a savings account maintained in foreign currencies - USD and GBP - for NRIs who have returned to India and hold funds in foreign currency....
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