Poonawalla fincorp
Poonawalla fincorp

Nri banking rules

This query is : Resolved 
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(Querist)
31 December 2011 As an NRI can one hold a resident account, or any PF account? If not what are the consequences of holding such account and remedies available.

whether any permission is needed from RBI in respect to transfer to RFC a/c after becoming a resident individual?
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
01 January 2012 No NRI's are not allowed to hold resident bank accounts in India , they need to convert the same in NRO account or open NRE account.

Anuj
+91-9810106211
femaquery@gmail.com

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