Who among the following is eligible to open a bank account in India?1)

1.	Who among the following is eligible to open a bank account in India?1). Indian citizens2). Non-resident Indians3). Senior citizens4). A 10-year-old minor
Answer» Foreign NATIONALS, who are STAYING in India for a LONG PERIOD due to work or business reasons, can open a bank account in order to make and receive rupee payments. Foreign nationals can open FA resident savings or current account with a bank in India provided they furnish requisite KYC documents. The foreign national can convert the account to NRO status when he completes his assignment in India and goes back to his own country.

Who among the following is eligible to open a bank account in India?1). Indian citizens2). Non-resident Indians3). Senior citizens4). A 10-year-old minor

Answer»

Foreign NATIONALS, who are STAYING in India for a LONG PERIOD due to work or business reasons, can open a bank account in order to make and receive rupee payments.

Foreign nationals can open FA resident savings or current account with a bank in India provided they furnish requisite KYC documents.
The foreign national can convert the account to NRO status when he completes his assignment in India and goes back to his own country.

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Who among the following is eligible to open a bank account in India?1). Indian citizens2). Non-resident Indians3). Senior citizens4). A 10-year-old minor

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