Economics · Banking and Finance
Which of the following statements correctly distinguishes between NRE and NRO accounts in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both accounts are maintained only in foreign currency.
- 2NRO accounts are fully repatriable, whereas NRE accounts are non-repatriable.
- 3NRE accounts are fully repatriable while NRO accounts have restricted repatriability.✓
- 4Both NRE and NRO accounts are fully repatriable and can be jointly held with residents.
Correct answer
NRE accounts are fully repatriable while NRO accounts have restricted repatriability.
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