Full Form Of Words

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A NRI is a person who is an Indian citizen (born in India) but has migrated to another country The Indian staff of U.N.O. and officials deputed abroad by Central or State Government are treated as Non-Resident Indian. NRI also represents the persons who are an Indian origin but born outside India.

These are some common reasons for becoming an NRI:

1) Higher education outside India.

2) Job and Employment.

3) Tour, Travel and Vacation.

4) Medical Reasons.

5)Went for training.

6)For business purpose.

The following are the various types of Non-Resident Indian banking accounts.

1) Non-resident Ordinary (NRO) saving account

2)Non-Resident External (NRE) saving account

3) Non-Resident Ordinary (NRO) fixed deposit accounts.

4) Non-Resident External (NRI) fixed deposit accounts.

5)Foreign exchange Non-resident Fixed Deposit account.