1860-500-5004/1800-209-0061
Accounts
RFC Account
As an important step towards further liberalisation of foreign exchange facilities available to individual residents, it has been decided by Reserve Bank of India to permit a person resident in India to open, hold and maintain with a licensed Bank (which is also an Authorised Dealer) in India a Foreign Currency (Domestic) Account and foreign exchange acquired from any of the sources specified as under can be kept in this account by the resident.
Features & Benefits
- While on visit to any place outside India by way of payment for services not arising from any business in or anything done in India; or
- From any person not resident in India and who is on a visit to India, as honorarium or gift payment for services rendered or in settlement of any lawful obligations; or
- By way of honorarium or gift while on a visit to any place outside India; or
- From an authorised person for travel abroad and represents unspent amount: or
- Gift received from close relative; or
- Foreign exchange earned through export of goods and/ or services; or royalty, honorarium etc
- NO Charges on non-maintenance of minimum Average Quarterly Balance
Type of Account : Current account
Currency : Foreign Currency such as USD, GBP & EURO
Eligible credits : Out of Foreign Exchange acquired from the sources specified as above in the form of currency notes, bank notes and travellers cheques.
Eligible Debit : Payment towards current and capital account transactions in accordance with existing foreign exchange Regularities.
Ceiling : No upper ceiling on balances held in account is stipulated by Reserve Bank of India .
Interest : No interest will be payable on balances held in account
Eligibility
-
Any person resident in India can open or hold an RFC account out of Foreign Exchange received
- As pension or any other super annuation or other monetary benefits from his employer outside India
- Realised on conversion of assets outside India and repatriated to India
- Received as a gift or inheritance from outside India
What Next
For further details
Email:
nri@indusind.com
Call: BSNL & MTNL subscribers: 1800 22 0061 Other subscribers: 1800 209 0061 / 022 44066666
Find your nearest branch
All New IndusNet
Online banking application forpersonal banking users
- Code of Commitment
- Schedule of Charges
- Collection Agencies
- Do Not Call Registration
- Grievance Redressal
- KYC for Banking Customers
- RBI Notifications
- Basel II Disclosure
- Other useful information
- Cheque Truncation System
- Customer Facilitation Centre – NEFT & RTGS
- Details of Unclaimed Deposits
- Auction Notices
Banking for Individuals | Banking for NRIs | Banking for Business Owners | Banking for Corporates & Institutions | Online Banking
IBL Registration Number NSE: INE231308847
MCX Stock Exchange Limited: INE261314434 for dealing in currency derivatives segment