[RFC account of a Returning NRI and Investment Abroad]
Resident Foreign Currency A/c is the best solution for all those NRIs who are now permanently coming back to India. The FCNR A/c as also NRE A/c of the Non-Resident Indian while coming back to India permanently should be immediately converted into Resident Foreign Currency A/c (RFC) to achieve the best investment planning.
As per para 5A a resident individual may open, hold and maintain a Resident Foreign Currency (Domestic) A/c regarding certain receipts and shall not bear any interest.
RFC account of a Returning NRI and Investment Abroad
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