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General FAQs on RFC Accounts
savings
General FAQs on RFC Accounts.
Are there any facilities available for returning Indians?
What is the Resident Foreign Currency Account Scheme?
What types of accounts can I open under RFC scheme?




Are there any facilities available for returning Indians?
Returning Indians can avail of the following facilities:

Maintenance of assets abroad: An NRI, who has stayed abroad continuously for at least one year, is permitted to maintain his investments in Bank deposits, shares, securities, business and immovable properties abroad.
Eligibility to open a Resident Foreign Currency Account (RFC): NRIs returning permanently, after a continuous stay of minimum one year abroad, can open Resident Foreign Currency Accounts with Banks in India.
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What is the Resident Foreign Currency Account Scheme?
This is a scheme permitting persons of Indian Nationality or Origin who have returned to India for permanent settlement (Returning Indians) after being resident outside India for a continuous period of not less than one year, to open Foreign Currency Accounts against the proceeds held in NRE/FCNR accounts of funds remitted from abroad.
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What types of accounts can I open under RFC scheme?
You can open Savings, Current and Fixed Deposit Accounts under the RFC scheme.
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