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State Bank of Mysore
- Interest Account
NRO {Ordinary Non-resident Rupee} Account
Accounts are opened in the names of non-resident individuals /
entities without approval of Reserve Bank of India for the purpose of putting through
bonafide transactions in Rupees. This account can also be opened jointly with a resident
in India. The local funds of an NRI viz. rent, dividend, interest, sale, proceeds of
securities, properties, etc can be credited to these accounts. Income earned on
investments done on non-repatriable basis is to be credited to NRO account.
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