Multiple choice

In which of the following can joint accounts with residents be opened by Non-Resident Indians?

  1. FCNR (B)

  2. NRE

  3. NRO

  4. NRNR

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

NRO accounts may be opened / maintained in the form of current, savings, recurring or fixed deposit accounts. Rate of interest applicable to these accounts and guidelines for opening, operating and maintenance of such accounts shall be in accordance with directives/instructions issued by the Reserve Bank from time to time. The accounts may be held jointly with residents and / or with non-residents.