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 .

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Features &
Benefits

Features & Benefits

  • The permitted transactions to the account are:
  • imgTrade (Export/ Import) Invoicing in INR
  • imgExternal Commercial Borrowings in INR
  • imgTrade Credits in INR
  • imgBusiness 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.
  • imgTax Refunds/Payment in INR
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Fee &
Charges

Fee & Charges

  • Monthly Average Balance Requirement: Metro & Urban Branches: Rs. 1 Lakh Semi-urban and Rural Branches : Rs.50,000
  • Charges for non-maintenance- Rs.1,500 if MAB >=50% & Rs.2500 if MAB <50%
  • Unlimited Free NEFT/RTGS for Domestic Transactions
  • Monthly Service Fee – Rs.100/-
  • SOC-SNR
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Eligibility &
Documentation

Eligibility & Documentation

Partnership & Above constitutions