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Currently, I am in India and got stuck with administrative processing. Hope this may take more than few months.

I was in US for past 2 years and I was transferring money to my India savings account using Remitly now and then and spend that in India for loan and other expenses. I have not opened any NRE / NRO account in India so far.

As I stuck with administrative processing, I would like to take all my saving money from US bank account to India. I recently came across the usage and NRE/NRO account.

NRE/NRO account is mandatory to transfer money from US bank?

Can I open NRE/NRO account now in India ?

Should I open NRE or NRO or better both ?

What will happen to these accounts if the administrative process take more time and I happen to stay here for long time ?

Any other advise ?

Thank you in advance !
asked in H1B Visa by (180 points)

1 Answer

0 votes
You need your US Visa and status related documentation to open NRE/ NRO account. I suggest you speak to a local bank like HDFC, ICICI or any others that offer such options to open account.  I will write an article on the NRE / NRO Options with more details, please check the blog in couple of days.
answered by (54.3k points)
Hi Kumar,

Thank you for your reply and I'll look forward for your article on this.

Meanwhile, could you please help me with my questions ?

NRE/NRO account is mandatory to transfer money from US bank?

Can I open NRE/NRO account now in India ?

Should I open NRE or NRO or better both ?

What will happen to these accounts if the administrative process take more time and I happen to stay here for long time ?

Any other advise ?



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