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Foot Note:-
- Proceeds of NRNR deposits maturing on or after 1-4-2002 may be credited to NRE A/c/NRO A/c at the option of the account holder.
- No new NRNR account to be opened after March 31, 2002.
- NRNR account may be closed or proceeds transferred to NRO account, as desired by the account holder, on September 30, 2002.
- The account holder may choose to credit the maturity proceeds to the NRE saving bank account or current account or open a fresh NRE term deposit account.
- No new NRSR account to be opened after March 31, 2002. The existing NRSR term deposit accounts may be continued till maturity and the maturity proceeds may be credited to NRO A/c of the Account holder.
- The existing NRSR account other than term deposit not to continue after September 30, 2002. On the closure of the account the balance to be credited to/transferred to NRO A/c of the account holder.
- The existing NRSR account other than term deposit not to continue after September 30, 2002. At the option of the account holder it may be closed or balance thereof may be credited to his NRO account on or before that date.
Notes:
Nomination facilities, for nominating either a resident or a non-resident are available, in all types of accounts maintained in the name of individuals only.
- For details of tax benefits available against each account please refer to the current income Tax rules.
- For the purposes of maintaining an account in India
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