Now we are familiar with NRE and NRO accounts, there are three more types of foreign currency accounts worth knowing – FCNR, RFC, and EEFC. These accounts are designed to meet different needs based on whether you’re: Let’s break down each...

If you’re an NRI (Non-Resident Indian), understanding the difference between NRE and NRO accounts is crucial for managing your finances efficiently in India. Let’s begin. What is an NRE Account? NRE (Non-Resident External) Account is designed...

Once we’ve understood the concept of residential status in India, it’s essential to know the banking options available for individuals based on their status. In this blog, we will explore all major types of bank accounts and banking options available...

In Indian financial and tax systems, an individual’s residential status determines how they are taxed and what financial privileges they have. Here’s a simplified breakdown of the major categories: RESIDENT INDIAN Who is a Resident...

There’s a new development related to ATM withdrawals, the Reserve Bank of India (RBI) has increased the maximum charge banks can levy for ATM transactions beyond the free limit. Earlier, banks could charge up to Rs. 21 per transaction after the free...

How Your Debit Card Works? In India and Around the World? Have you ever wondered how you can withdraw cash from any ATM, even if it doesn’t belong to your bank? Or how your Indian debit card works when you’re in another country? It turns out, there’s...

Since 2020, the RBI has added over 200 tonnes of gold to diversify forex reserves and reduce dependence on the U.S. dollar. Gold acts as a hedge against inflation, sanctions, and global crises, enhancing financial stability. However, it yields no...