under the Foreign Exchange Management Act. Foreign Currency Non-Resident (FCNR) account and Non-Resident External (NRE) account are opened by Non-Resident Indians (NRIs) with the Indian banks. As per the recommendations of the committee constituted to r
NRI can now open joint accounts with resident Indian
Liberalising the foreign exchange rules, the Reserve Bank today allowed NRIs to hold joint account with Indian residents, a move that would help increase remittances.
The central bank has also permi