13B.5
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Opening of Accounts during Temporary Visits to India
Accounts may be opened in the name of any eligible NRI during his temporary visit to India against tender of foreign currency travellers cheques issued in his own name or notes and coins tendered, provided the authorised dealer is satisfied that the person has not ceased to be non-resident. The amount so tendered should be endorsed on the Currency Declaration Form, where applicable (See paragraph 7D.5). Authorised dealers should, however, ensure that the travellers cheques and currency notes tendered by the account holder have in fact been brought by him from abroad and not acquired locally.