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RBI ReportPublished 8 Jul 2026Read time 1 min

RBI Updates Rules for NRI Bank Accounts in India

RBI has updated rules for NRI bank accounts including NRO, NRE, and SNRR accounts.

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For information only. Not financial advice. Verify with official sources before taking any action.

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What happened

The Reserve Bank of India (RBI) has amended its rules about bank accounts held by Non-Resident Indians (NRIs) — that is, Indians living outside India. The changes update which types of accounts NRIs can open, where they can open them, and how money can be moved between different NRI account types. A new type of financial zone called an International Financial Services Centre (IFSC) — a special area in India that operates like a global financial hub, such as GIFT City in Gujarat — has now been formally included in these rules.

Why it matters

RBI periodically updates foreign exchange rules to keep pace with India's growing financial infrastructure. Including IFSCs in these rules brings India's NRI banking framework in line with global standards. The changes to transfer rules between NRO, NRE, and SNRR accounts aim to make it clearer how NRIs can legally move their Indian earnings and savings.

What to check

  • →Check if you or a family member living abroad holds an NRO, NRE, or SNRR account — these are the three main NRI account types affected.
  • →Find out from your bank whether transfers between your NRO and NRE accounts are now possible under the updated limits set by RBI's Remittance of Assets Regulations.
  • →Ask your bank if they have a branch in an IFSC such as GIFT City, and whether that changes any options available to you.
  • →Look at the annual limit for remitting money out of India — currently USD 1 million per financial year — as this cap still applies to transfers from NRO accounts.
  • →Consider speaking to your bank's NRI services desk to understand if any paperwork or account details need updating under the new rules.

This is general information, not financial advice. Check your own position with your lender or an adviser.

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