by Let’s checkout Who can open a NRE Bank account in India. These guidelines are common to all the banks including Government Banks, Private Banks & others.
The following individuals can open a NRE/NRI Bank account without prior approval of RBI.
1. Non Resident Indian (i.e. An Indian Citizen, who have gone abroad for gainful employment or for carrying on a business or vocation or for any other purpose in circumstances indicating an intention to stay outside India for an uncertain duration)
2. A Person of Indian Origin (PIO)/ OCI (Overseas Citizens of India).
3. Crew members having Indian Nationality or of Indian origin employed by Shipping companies/Airlines, based at Foreign Ports and residing abroad.
4. Students who have gone abroad for higher studies and continue to stay abroad.
Indian nationals deputed/ posted abroad or working with foreign Governments/ Governments agencies, UNO and other international agencies.
Also Know – Is one required to surrender foreign coins also to an authorised dealer?
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