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The Economic Times
The Economic Times
Business
Sneha Kulkarni

NRO account for NRIs: Which funds can be deposited, tax on interest and repatriation rules

India

You may no longer have a regular savings account in India after you announce your Non-Resident Indian (NRI) status. Rather, you have to register an NRI account or convert your existing one.

For such NRIs, a Non-Resident Ordinary (NRO) account is a popular way to manage their deposits or income earned in India, such as dividends, pensions, rent, etc. This account allows you to receive funds in either Indian or a foreign currency.

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