SIMPLE TAX INDIA

RBI liberalises Forex Facilities for Individuals

Posted: 25 Sep 2011 07:23 PM PDT

1. NRIs can be Joint Holders in Resident's SB/EEFC/RFC Accounts :Individual residents in India are now permitted to include non-resident close relative(s) as joint holder(s) in their resident bank accounts, namely, savings(SB), Exporter Earners' Foreign Currency (EEFC) and Residents' Foreign Currency (RFC) accounts, on 'former or survivor' basis. 2. Residents can be Joint Holders in NRE/FCNR