Who is a Non- Resident Indian (NRI)?


Non-Resident Indian Means:

A person resident outside India who is a citizen of India or a person of Indian origin i.e.

  • Indian citizens who proceed abroad for employment or for carrying on any business or vocation or for any other purpose in circumstances indicating indefinite period of stay outside India.
  • Indian citizens working abroad on assignments with Foreign Governments, Government Agencies or International / Multinational Agencies like United Nations Organization (UNO), International Monetary Fund (IMF) and World Bank etc.
  • Officials of Central and State Governments and Public Sector Undertakings deputed abroad on assignments with Foreign Government Agencies / Organisations or posted to their own offices including Indian Diplomatic Missions abroad.
  • Students going abroad for studying are now treated as Non-Resident Indians (NRIs) and are eligible for all the facilities available to NRIs under FEMA.

Who is PIO?

A person of Indian origin who is a citizen of any other country other than Bangladesh or Pakistan, if :

  • She/ He, at any time, held an Indian passport or
  • She/ He or either of her/his parents or any of her/his grand-parents was a citizen of India by virtue of Constitution of India or Citizenship Act 1955 (57of 1955)
  • The person is a spouse of an Indian Citizen or a person referred to in sub clause (i) or (ii) above

Who is Returning Indian?

Returning Indians i.e. those Indians who were non-residents earlier, and are returning now for permanent stay in India are permitted to open, hold and maintain Resident Foreign Currency (RFC) A/c.

How can an NRI open an account?


Apply online


Attach required documents

  • Demand drafts
  • Star Insta-Remit
  • Speed Remittance
  • Copy of passport.
  • Two photographs of account holder/s.
  • Signatures to be verified by Indian embassy/known bankers.
  • Full particulars as provided in the application form including nomination.
  • Remittance should be in foreign currency.
    (Please note to give overseas and local addresses, contact phone/fax numbers, email address etc…) NRI's can open an account by Inward remittances in any convertible currency from abroad by way of
  • All documents should be verified and duly attested

Note: Account may be introduced by an existing customer of the branch or may be verified by present banker or by Embassy Officials abroad. Copies of important pages of passport (containing name, signature, birth-date, place/ date of issue, expiry date etc) duly authenticated by Notary Public/ Officials of Indian Embassy. Two passport size photographs with signatures on reverse Remittance for opening an account.

Submit to your nearest branch


How should funds be transferred ?


FCNR Account

Remittance Instructions for FCNR Deposits

FCNR deposits are accepted at select authorized branches.

NRE/ NRO Account:

NRIs may instruct their bankers to remit the amount directly by telex/ SWIFT to any of our forex branches for onward credit to Bank of India's branch where account is to be opened. Draft drawn on Mumbai or elsewhere may also be mailed to concerned branch which will be credited to the account on realisation.