Tag Archives: NRO

Do NRIs need to convert resident savings account to NRO NRE account

Do NRIs Need to Have an NRE/NRO Account to Send Money to India?

As an NRI, do I need an NRE/NRO account to send money to India? Can NRI hold a savings account in India? Am I required to convert my resident savings account to NRI bank account once I move abroad? Is there a penalty...