What are the types of NRI bank accounts that can be held in India?
NRIs can have the following bank accounts : Given below is comparison between NRO, NRE and FCNR accounts: Accounts and features NRO NRE FCNR(B) Purpose of Account To park Indian earnings like rent, Indian salary, dividend etc To park overseas savings remitted to India after converting to INR To park overseas savings without converting into…