NRIs can hold accounts in any currency now

Oct 20

NRIs can hold accounts in any currency now

The Reserve Bank on Wednesday said Indians who have non-resident accounts in the country can now hold them in any currency which is fully convertible. The move is likely to help NRIs/Persons of India Origin as it will give them more options in the holding of accounts, and lessen the risk from fluctuations in major currencies. 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
http://www.hindustantimes.com/News-Feed/businessbankinginsurance/NRIs-can-hold-accounts-in-any-currency-now-RBI/Article1-759132.aspx

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