Tuesday, November 15, 2011

NRIs CAN HOLD ACCOUNTS IN ANY CURRENCY NOW

The Reserve Bank of India (RBI) said that Indians who have Non-Resident Accounts in the country can now hold them in any currency which is fully convertible. Earlier, FCNR (B) account holders were allowed to hold accounts in only certain currencies such as the Pound Sterling, US dollar, Japanese yen, Euro, Canadian dollar and Australian dollar.

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