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A PRESENTATION ON MARKETING OF FINANCIAL SERVICES

4/21/12

The following types of non-residential accounts can be opened in rupees: a. c. e. b. f. Current Account Saving Account Term Deposit Special Term Deposit Recurring Deposit Cash certificates Annuity Deposits 4/21/12 . d. g.

I.R.I. II.R. group).R. (E) accounts can be accepted in any currency if they are transferred to in an approved manner from the country of residence of the account holder or any other foreign country if the country of residence of the account holder and the country from which remittance(payment) is received are both in same group (now modified). All the account holders are N. .Such N. Accounts can be even jointly opened if: I.s All are of Indian Nationality or origin All are resident in the same country if belonging to mutual group (now modified in the same or different countries in Ext. Fund in N. 4/21/12 . III.

Savings certificates. II. Transfer from accounts to account holder and the same/another branch of bank.The following local credits are accepted in N. and share provided these are purchased out of external funds.R. Interest on Term Deposit of account holder. 4/21/12 . Interest/Dividend/Sales proceeds of units of UTI. (E) account: I. III. National Plan.

only. Eligible for Tax exemption. Repatriation allowed.The following is difference in N.(O) N.R. (E). Source of credit resident as well Source foreign credit only.(E) account: N. No Tax exemption.(E) Conversion of resident accounts Conversion not allowed from as account holder becoming resident account to N.R.R. non-resident or new account in the name of N. as foreign. Repatriation not allowed. 4/21/12 .R.(o) and N. Joint account with resident Indian close relative allowed.R.R.R. Joint account with N.

) Term Deposit Account. Funds from N. 4. Tax Exemption a. Wealth tax c. Interest rates payable are higher for N. 4/21/12 .R. Reconversion facility is available.R.(E) can be transferred to N.(E) account including interest is allowed without prior reference to RBI. 5.R. Gift tax Repatriation of balances held in N. 2. 3.N.R.(Ext.(E) accounts are eligible for: 1.(E).R. Income tax b.

R to resident the account should be changed to resident on getting intimation from account holder. When the account holder changes his status from N. 4/21/12 .R..Cont. .(E) Term Deposit is allowed up to specified limit for approved purpose and repayment has to be made either by adjusting the deposit or by fresh remittances in Forex from abroad. . Loans/O. 6. Premature payment is allowed like conditions for domestic deposits.D against N.

Thank You.! 4/21/12 ..