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What is the status of NRO/NRE accounts on the return of the account holder to India?

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The Bank has been advised to redesignate such accounts as resident accounts on return of the account holder to India.

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Ans. Banks redesignate such accounts as resident accounts on return of the account holder to India.

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RBI has advised banks to re-designate such accounts as resident accounts on return of the account holder to India.

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Ans. Banks have been advised to redesignate such accounts as resident accounts on return of the account holder to India. Q.

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