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Can an NRI use a NRO bank account?


NRO accounts are Indian rupee accounts that function much like resident savings accounts. Interest earnings in NRO accounts are taxable in India. Repatriation upto USD 1 million (check this) per year are permitted from NRO accounts.

If you are a tax resident in India, we recommend you consult a tax accountant on re-designating your NRE and NRO accounts to resident Indian accounts.

A detailed description is available from the Reserve Bank of India’s website

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