Frequently Asked Questions

FAQ for opening of deposit accounts by foreign tourists

EXCHANGE CONTROL DEPARTMENT
NON RESIDENT FOREIGN ACCOUNTS DIVISION

1. Can foreign tourists open a bank account in India during their short visit ?

Yes, foreign tourists during their short visit to India can open a Non-Resident (Ordinary) Rupee (NRO) account with any bank dealing in foreign exchange .

2. What credits can be made to such accounts ?

Funds remitted from outside India or those obtained by sale of foreign exchange brought by the tourists to India can be credited to the NRO account.

3.Can the NRO account be used for making local payments ?

Yes, the tourists can freely make local payments by debit to the NRO account.

4. Can foreign tourists repatriate the balance held in their NRO account at the time of departure from India ?

Banks have been allowed to convert the balance in the account at the time of departure of the tourists into foreign currency provided the account has been maintained for a period not exceeding six months and the account has not been credited with any local funds, other than interest accrued thereon.

5. What can be done to repatriate the proceeds of an account that has been maintained for more than six months ?

An application for repatriation of balance may be made on plain paper to the concerned Regional Office of Reserve Bank.


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