What is NRI BANKING?

Question

Accepted Answer

NRI banking refers to banking services provided to Non-Resident Indians (NRIs) who live abroad but maintain financial connections with their home country.

NRI banking offers various services like NRI savings accounts, NRI fixed deposits, NRI loans, and NRI remittances.
NRIs can open NRI accounts in Indian banks to manage their finances and investments in India.
These accounts can be in the form of NRE (Non-Resident External) accounts, NRO (Non-Resident Ordinary) accounts, or FCNR (Foreign Currency Non-Resident) accounts.
NRI banking also includes services like foreign currency exchange, investment advisory, and wealth management for NRIs.
Banks offering NRI banking services have dedicated branches or specialized departments to cater to the needs of NRIs.
For example, State Bank of India (SBI) has an NRI Services branch that provides a range of banking services exclusively for NRIs.

Accepted Answer

a banking service provided for Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs)

What is NRI BANKING?

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