Eligibility for opening account

ELIGIBILITY CONDITIONS FOR OPENING OF RESIDENT INDIAN OR NRI ACCOUNTS
Account Type	Resident Indian / Domestic Accounts	Non Resident Ordinary (NRO) Accounts	Non Resident External (NRE) Accounts	Foreign Currency Non-resident (Bank) {FCNR (B)} Accounts
Status permitted	Resident Indians (RI) Foreign Nationals on employment in India*	NRI PIO OCI Foreign Students studying in India# Foreign Tourists on short visit to India	NRI PIO OCI	NRI PIO OCI
Conversion of Resident Indian / Domestic Savings Bank (SB) Account to	Not Applicable	Permitted	Not-permitted	Not-permitted
NRI (PIO/OCI) opening joint account with Resident Indian (RI)	Permitted but with following conditions : Mode of operation: 'Either or Survivor' only RI will be the primary/first account holder in the joint account and NRI (PIO / OCI) will be the second applicant Relation with RI joint account holder: Close relative only relative (as defined in Section 6 of the Companies Act, 1956)	Permitted but with following conditions: Mode of operation: 'Former or Survivor' only NRI (PIO / OCI) will be the primary / first applicant in the joint account Relation with RI joint account holder: Close relative only relative (as defined in Section 6 of the Companies Act, 1956)	Permitted but with following conditions: Mode of operation: 'Former or Survivor' only NRI (PIO / OCI) will be the primary / first applicant in the joint account Relation with RI joint account holder: Close relative only relative (as defined in Section 6 of the Companies Act, 1956)	Permitted but with following conditions: Mode of operation: 'Former or Survivor' only NRI (PIO / OCI) will be the primary / first applicant in the joint account Relation with RI joint account holder: Close relative only relative (as defined in Section 6 of the Companies Act, 1956)
Conditions related to opening of said account by applicants as per their Nationality / Citizenship
Nepal and Bhutan	Permitted	Not-permitted	Permitted	Permitted
Pakistan	Permitted	For NRI status:  Permitted For PIO & OCI statuses: -They can open but applicant has to take prior approval of the Reserve Bank of India.	It is permitted, only if applicant has taken prior approval of the Reserve Bank of India.	It is permitted, only if applicant has taken prior approval of the Reserve Bank of India.
Bangladesh	Permitted	It is permitted, subject to fulfillment of any one of the below:- If applicant has taken prior approval of the Reserve Bank of India. Applicant holds a valid visa and valid residential permit issued by Foreigner Registration Office (FRO)/ Foreigner Regional Registration Office (FRRO) concerned	It is permitted, only if applicant has taken prior approval of the Reserve Bank of India	It is permitted, only if applicant has taken prior approval of the Reserve Bank of India
Rest of the countries	Permitted	Permitted	Permitted	Permitted
Please Note: *Foreign nationals who come to India on employment and become residents in terms of section 2 (v) of FEMA, 1999 and are eligible to open/hold a resident savings bank account are permitted to re-designate their resident account maintained in India as NRO account on leaving the country after their employment to enable them to receive their legitimate dues subject to certain conditions. #NRO account be opened for Foreign Students studying in India on the basis of his/her passport (with appropriate visa & immigration endorsement) which contains the proof of identity and address in the home country along with a photograph and a letter offering admission from the educational institution, subject to following: Within a period of 30 days of opening the account, the foreign student should submit to the branch where the account is opened, a valid address proof giving local address, in the form of a rent agreement or a letter from the educational institution as a proof of living in a facility provided by the educational institution. Banks should not insist on the landlord visiting the branch for verification of rent documents and alternative means of verification of local address may be adopted by banks. During the 30 days period, the account should be operated with a condition of allowing foreign remittances not exceeding USD 1,000 into the account and a cap of monthly withdrawal to Rs. 50,000/-, pending verification of address. On submission of the proof of current address, the account would be treated as a normal NRO account, and will be operated in terms of extant instructions.