Apply
Now
- Home
- Business Banking
- Current Account
- Current Account LO/BO/PO
- Features & Benefits
Overview
Current Account can be opened by foreign companies (a body corporate incorporated outside India, including a firm or other association of individuals) for establishing BO/ LO/ PO in India as per the guidelines given by Reserve Bank of India (RBI). Principal business of these foreign entities fall under sectors where 100 per cent foreign direct investment (FDI) is allowed
Access to 4400+ branches 17000+ ATMs for banking services
Anytime, Anywhere banking with Internet/Mobile Banking
Enhanced ATM Cash withdrawal & shopping limits
Suite of Debit Cards, CMS and Trade-Forex solutions
-
The non-resident entity applying for a BO/LO/PO in India should have a financially sound track record viz:
- For Branch Office - a profit making track record during the immediately preceding five financial years in the home country and net worth of not less than USD 100,000 or its equivalent
- For Liaison Office - a profit making track record during the immediately preceding three financial years in the home country and net worth of not less than USD 50,000 or its equivalent
- For Project Office - the intending foreign company should have secured from an Indian company a contract to execute a project in India
-
Important Links
Open Access Blog
Comparing individual and non-individual Current Accounts
Current Accounts are essential for managing daily financial transactions, but the type of account...
Read
More about Open Access Blog
4 min read