Want to know can i deposit cash in NRO account in India? Yes, you can deposit cash into an NRO (Non-Resident Ordinary) account. Scroll down to learn more.
Can I Deposit Rupees in NRO Account?
NRO accounts are designed for non-resident Indians (NRIs) to manage their income earned in India, including rental income, dividends, pension, etc. Here's how you can deposit cash into your NRO account:
You'll need to visit the branch of the bank where you hold your NRO account.
Obtain a cash deposit slip from the bank counter, or you may need to fill out a deposit form provided by the bank.
Fill in the required details on the deposit slip, including your NRO account number, name, and the amount of cash you wish to deposit. Hand over the filled deposit slip along with the cash amount to the bank teller.
Upon depositing the cash, the bank will provide you with a receipt or acknowledgment slip confirming the deposit. This receipt is important for future reference.
Depending on the bank's policies and regulatory requirements, you may need to provide additional documentation or information for large cash deposits to comply with anti-money laundering (AML) and know your customer (KYC) regulations.
The deposited cash amount should reflect in your NRO account's passbook or statement after the transaction is processed.
Now, let me tell you how much cash can be deposited in NRO account. If you have an SBI NRI account then you can deposit maximum up to USD 1 million.
I hope your query for can NRI deposit cash in NRO account is solved.
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Authors Of The Question
Can I Deposit Cash in NRO Account in India?
Shami
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1 Answers
8 months
2024-04-23T19:51:19+00:00 2024-07-17T11:28:49+00:00Comment
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