Schemes for Foreign Nationals

A foreign national of non-Indian origin visiting India, can open NRO (current/ savings) a/c with the funds remitted from outside India through normal banking channel or by sale of foreign exchange brought by him to India. The balance in the NRO a/c may be paid to the a/c holder at the time of his departure from India.


A foreign national resident in India can open a normal resident a/c in Rupees. (This is not ‘NRO’ a/c). There are no restrictions on such a/c from FEMA point of view. Funds from the a/c can be repatriated abroad if:

  • They were received from abroad, or
  • They are repatriable under provisions of FEMA.

Points to Remember:

  • Any person resident outside India may take out of India un-spent foreign exchange which he had brought in India. If the amount exceeds prescribed limit (of 5,000/ 10,000 USD), he should have made a declaration in CDF form on his arrival in India.

  • CDF declaration is not required where the travellers’ cheque/ currency/ bank notes brought are below the prescribed limits.

  • A foreign national of non- Indian origin visiting India can open NRO (savings/ current) a/c.

  • A foreign national resident in India can open a normal resident a/c in INR.

Frequently asked questions

Can foreign tourists on short visit open a bank a/c in India?

Yes. Foreign tourists of non- Indian origin during their short visit to India can open a NRO a/c (Current / Savings) with any Bank dealing in foreign exchange. Such a/c can be opened up to a maximum period of 6 months.

What credits can be made to such a/c’s?

Funds remitted from outside India through banking channel or those obtained by sale of foreign exchange brought by the tourists to India can be credited to the NRO a/c.

Can the NRO a/c be used for making local payments?

Yes. Tourists can freely make local payments through the NRO a/c.

Can foreign tourists repatriate the balance held in their NRO a/c at the time of departure from India?

AD banks have been allowed to convert the balance in the a/c for payment to the a/c holder at the time of departure from India into foreign currency, provided the a/c has been maintained for a period not exceeding six months and the a/c has not been credited with any local funds, other than interest accrued thereon.

Can foreign nationals resident in India open a resident a/c?

Yes. Foreign nationals employed in India holding valid visas can open and maintain a resident Rupee a/c in India subject to conditions.

Can AD Banks remit proceeds on closure of resident a/c opened by a foreign national resident in India to his overseas a/c?

Yes, AD Banks can remit proceeds of resident a/c opened by a foreign national resident in India. But AD Banks should ensure that the funds to be repatriated outside India were either received from abroad or they are repatriable in nature or permissible by RBI. The foreign nationals employed in India holding valid visas are eligible to maintain resident a/c with an AD Bank in India. In order to facilitate such foreign nationals to collect their pending dues in India, AD Banks may, permit foreign nationals to re-designate their resident a/c maintained in India as NRO a/c on leaving the country after their employment to enable them to receive their pending bonafide dues, subject to conditions.

How much Indian currency can be brought in or take out while coming to India?

Any person resident outside India, not being a citizen of Pakistan or Bangladesh and also not a traveler coming from and going to Pakistan and Bangladesh, and visiting India may bring into India currency notes of Government of India and RBI notes up to an amount not exceeding Rs. 25,000/- while entering only through an airport.

How much foreign exchange can be brought in while visiting India?

A person coming into India from abroad can bring with him foreign exchange without any limit. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers cheques brought in exceeds USD 10,000/- or its equivalent and/ or the value of foreign currency alone exceeds USD 5,000/- or its equivalent, it should be declared to the Customs Authorities at the Airport in the CDF form, on arrival in India.