The foreigners who are on a short trip to India on tourist Visa may open their bank account in India. They are facilitated to open SB or Current account in the form of NRO (Non-Resident Ordinary) account. The accounts of tourists opened by the authorised dealer banks after completion of KYC (Know Your Customer) procedure like verification of identity proof and address proof of the person along with his/her photographs. The proof of identity and address of the foreign tourist in his home country is verified through his passport with appropriate visa and immigration endorsement.
The Pakistani Nationals on a short trip to India as a tourist need to take prior approval from RBI for opening the bank account in India. Bangladesh Nationals must have a valid visa and residential permit issued by Foreigner Registration Office (FRO) / Foreigner Regional Registration Office (FRRO) concerned. The tourists from others countries are also required to register at FRRO only in the cases of they re-enter India within 60 days of the last departure.
The tourists are allowed to deposit the money to their account with the funds remitted from abroad through banking channel or by the sale of foreign exchange brought by them to India in an approved manner. At the time of tourist leaving India, the balance available in his account including interest accrued thereon in the account is converted into a foreign currency desired by the account holder and paid to him. However, the repatriation of funds is allowed subject to the condition that the account has not been credited with any local funds and the account has been maintained for a period not exceeding six months.
In the cases of tourist’s account maintained in India beyond