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- Special Non-Resident Rupee (SNRR) Account
- Features & Benefits
Overview
A non-resident entity having business interest in India can open a Special Non-Resident Rupee Account (SNRR account) with an authorised dealer. This account is required for carrying out bonafide transactions in rupees as per the regulations .
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
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The permitted transactions to the account are:
- Trade (Export/ Import) Invoicing in INR
- External Commercial Borrowings in INR
- Trade Credits in INR
- Business related transactions outside International Financial Service Centre (IFSC) by IFSC units at GIFT city like administrative expenses in INR outside IFSC, INR amount from sale of scrap, government incentives in INR, etc.
- Tax Refunds/Payment in INR
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