Bank accounts in India

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dandan123

Registered Users (C)
I haven't had much time to peruse this forum yet, will be doing so shortly.

If my question already has been answered please pardon me.

I have a few bank accounts in India which were opened when I used to live in India. They have been funded by money earned in India.

I have now applied for US citizenship and was wondering what I need to do about these accounts.

I have a fair amount or money in these accounts and don't want to lose them for any reason. Also I have some stocks in my name, again bought when I used to live in India.

Any advice would be appreciated.
 
Ok

IMHO, You should be fine...Since as an OCI you are treated no different than NRI and I assume you fall under the same category at this point?
 
The RBI directive is very clear in this regard. An OCI card holder has all the privilages of an NRI relating to financial matters. So you should be fine.

The OCI card clearly has instructions that states the OCI card holder should be treated in parity with NRI in education,financial and economic matters except ownership of argricultural land.

Just Google for RBI website and you will find more information there.
 
Thanks for your responses, I'll check out RBI's website.

Yes I've an NRI but these accounts are not NRI accounts just regular accounts opened many years ago when I lived in India.
 
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