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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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