RBI Allows NRIs To Open Rupee Accounts Abroad | Here’s Why This Move Can Be Significant

[@teekamchand801]

Unless you allow transfer from NRI to India without any charge, no NRI has any reason to switch to INR !! We all know how this country rewards patriots so don't expect any one doing it out of Nationalism.

[@karagis75]

Keep your dollars with you....

[@AnoNymous-i1o]

you have zero clue how this works. NRIs are sending $120bn. They have their assets in India. NRE accounts are tax free. This is part of India's global rupee push. Countries like Russia has accumulated too much INR without ability to spend them globally. So creating a network of global banks will help them offload their INR. So a company can directly negotiate with Indian immigrant worker to pay in Rupees and deposit them directly to his offshore Indian rupee bank account. He can then use that to buy house in India.

[@majimakiriyu4872]

​@@AnoNymous-i1o90 percent of that 120 bn is black money from offshore shell companies 😂😂

[@kw9494]

@@AnoNymous-i1oThese are cronies round tripping their illegal money looted from India, for the benefit of crooks in power. LOL.

[@AnoNymous-i1o]

@@majimakiriyu4872 no. black money comes through FDI. Indian diaspora is 35M. they send money to their NRE accounts

[@LikeDeep-q6w]

First simplify your banking for NRI. As an NRI, it is headache dealing with Indian banks with so much documentation, and so many different types (NRE/NRO/Domestic) of accounts with different rules and restrictions. India is probably the only large country where day-to-day banking so tedious compared to other countries of its scale. Don't know why sarkaari babus think making banking more difficult means more security 🤦‍♂

[@Dhelectro]

Agree

[@rajahya]

Opening an NRI account is very hard even at ICICI bank which is a private bank had to fill forms that required 22 places to sign for a Demat account Closing an account is also very difficult especially when father passed away am still waiting for bank of Baroda to close his Demat account and trading account which had nothing in them Savings are protected in UK for 85k per person per bank... India only offers 5k protection ....why should I open a rupee account stupido....get real please compete

[@rajarajantarmalinggam9133]

First make sure a standard law to provide adhar card to nri at all centre at india..

[@Hypertrophy1971]

It means security for them

[@spman_19SR_25]

@@rajahyano 5k it’s 5L

[@diptisamantaray4570]

Then FM can tax on that money😂

[@karagis75]

Tax depends on Resident status... Foreign countries may tax you

[@maheshrathod204]

😂😂

[@Boopathydubai]

😂😂😂 exactly said

[@Davey1022]

Exactly

[@spman_19SR_25]

When you don’t know ABC of taxing and still blabber about it

[@minijha946]

Dealing with Indian bank is my biggest nightmare whenever I travel to India

[@freemind45]

No one trusts the RBI or Govt on rupee matters. Any NRI wouldnt want to expose his funds to the tax monster.

[@mrinaliniduttinnamuri4920]

😂

[@aneev609]

Exactly, surcharges, gst, foreign exchange fees and what not..

[@lifeofanitguy]

New trap to suck money

[@munnieswaroop]

Then hdfc will charge rs 8000 fine for not maintaining minimum balance in NRI accounts and thats how they make profit.

[@saurabhsinha8863]

I am RBI . Me and the central government will charge 40% TDS to NRI when they buy property in India , our police will harass them , we will charge 300% duty on the gifts they send to their family members in India. But we want them to strengthen our economy . LMAO.

[@aryanindo5634]

when i visit india & go to any PSU bank with my parents, those PSU employees treat as trash ....Now the GOI Babus want me to salam them in US too ? (By the way during demonetization the SBI's at US refused to take INR's and there argument was we are SBI US whereas RBI & modi were singing some different tunes on Indian TV)

[@karagis75]

US and india will see debt crisis....does not matter Dollars and Rupees both are rubbish....our people will never change

[@c00lguy12345]

That's true. We had to drive to Washington DC twice and they wasted our time and treated us like we dont belong in their bank. My dad was looking get his NRI account open and they first told us to come back next week and when went there next time, they said you cannot open an account here. You can't exchange your rupee as well. I don't hate India but the indian officials make me sick.

[@samarth2937]

That's why we called ourselves Vishvaguru.. guru never listens anything

[@Random-h5r]

As an ex-banker I understand... We r so used to serve trash customers, everyone looked same 2 us... I apologise on their behalf..

[@RockNRoll75613]

My family had the same experience.😂😂😂😂

[@av21015]

Rupee crashing daily. No one will hold rupee if they can hold dollar.

[@jerry-sb1238]

And they want these NRI to bring under the tax sustems.. don't want to leave them alone even after they have left this f country. No benefits middle class gets out of those direct taxes paid. Only harassment at every levels of govt interaction

[@karagis75]

Dollar is another rubbish....hope u are smart buy real estate or Gold ...stocks at good valuation

[@pawanraj8248]

Dollar will be collapsing. Reset is coming

[@AnoNymous-i1o]

@@pawanraj8248 yes, thats why this immigrant drama. create civil war, when everybody is focussed there, silently collapse the dollar

[@c00lguy12345]

@@karagis75 Something tells me you are not earning money in dollars.

[@craigslist1323]

Which joker will open Rupee account in the first place? What’s the point?! This is a joker move

[@jailreddy420]

U foolish joker This policy to make inr strong in international market

[@jamesbluntjamesblun1]

​@@jailreddy420maybe you are eating too much pakoda 😂

[@kottapallu2844]

No body would opt for this foolish (inr) option over dollar

[@viveksamrat5864]

RBI, employees and govt has destroyed value of rupees. A dollar cost is 86 Rs what a shame . Rupee with no value.

[@Love-wz4vg]

secular India destroyed it This is why we need Hindu rashtra

[@viveksamrat5864]

@Love-wz4vg where will you send people following different relegion then hindu. Secular dose not mean no application of law of land. Remember it is laws which should be applied and there should be end of relegion. Law should work and be applied equally for all.

[@Love-wz4vg]

@@viveksamrat5864 currently India is secular country We can see its failed We need a country based on GOD minority needs to respect god of majority They only country can function Secular liberal India failed

[@viveksamrat5864]

@Love-wz4vg only solution is law based country no relegion be allowed to be followed in open places. Remember people divide themselves ever if belongs to one relegion, people divide on bases villages then comes cast, then comes groups in villages then they divide into family group then they divide in individual family. This nature of dividing never ends. So solution is laws based country where no relegion allowed so people fee same throughout country. Relegion is big dividing line.

[@rrajan5476]

@@viveksamrat5864 secular means half-Muslim (Pak origin) and half-Vatican. If you dont understand, then it is a pity.

[@goldlotus7831]

In 2016 India behaved very badly with people settled abroad who had old INR 500 and 1000 notes. They wanted them to fly back home to exchange their old notes. The notes got wasted. Who would want to open any account anywhere now??

[@troyfortruth]

@goldlotus7831 you hit the nail on the head. I still have Rs. 6000 worth of 500 rupee notes with me. The reason I had kept them was because when I land in India I wanted to have liquid cash to pay the taxi driver who drives me home from the airport. Those days UPI or e-money was not as prevalent as it is today. When Modi brought demonetization on Nov 8, 2016; there was no way to exchange the cash for people living in the US; except if you somehow had access to an SBI branch (which many did not sadly).

[@Universallife1213]

I lost rs 20000 . These dickheads thought NRIs hold black money too.

[@Raj-tt6pk]

Tax rules are so complicated for NRI’s that they have to think 10 times before any decision. Rules are made to screw people who obey them .

[@cookmaster3626]

Dont forget holding an account in India adds to the complexity of IRS tax filings if you are a US citizen.

[@bally1asdf]

I agree

[@kr5709]

Now a days no one trust rbi sebi and finance minister 😂

[@Boopathydubai]

Excellent 😅😅😅😅

[@Boopathydubai]

Exactly said

[@datacoders2048]

This guy are making people suffer ....if I had money I too plan to leave india .....for better life ...why have to suffer under them

[@british-indian]

Grass is greener on the other side…. I am moving back to Pune from London after 25 yrs .

[@mahasish]

First make banking easier for NRI. Everything is linked to Indian phone number and requires KYC every few years.

[@cathy285]

Every six months

[@Boopathydubai]

Axis bank asking every year

[@mahasish]

@nayanpatel2413 What do you mean? KYC or phone number OTP? I have been using Chase for almost 10 years and not a single time I had to submit anything after opening the account. Also, most of the banks don't ask for OTP, unless you login from different location. If they ask for OTP then also they provide option to use email for OTP.

[@cookmaster3626]

@@nayanpatel2413 - May I know where in US or which US financial institution / bank are asking you for KYC or its equivalent?

[@waris_loves_everyone]

Now you can use UPI using NRE account with international linked number.

[@arunroyappan]

This is not going to stop Rupees fall against USD

[@karagis75]

Rupee devaluation is only way out of mess due to freebies culture of india....our people are so fond of freebies

[@TanmoyThakur-s7j]

It's You're Bad Think Ruppes Devallu Reason Chutoya Indian Useing Chinese Good's Not Made In Indian It's Big Concern​@@karagis75

[@AnoNymous-i1o]

@@karagis75 I dont get it. How are they connected ? Rupee devaluation is happening because of inflation created by US.

[@megaspacebar4664]

@@AnoNymous-i1oEuro isn’t falling in similar way.

[@AnoNymous-i1o]

@ it doesnt mean anything. RBI can control rise or fall. We devalue the currency to promote exports. Why would you make unrelated comparison ? India's export grew from $500bn in 2020 to $800bn in 2024. Note that India helped ease the pressure due to global oil crisis because of Ukraine war. India refined the Russian oil and sold it to the West. India saved the West from going into severe recession because of the Nordstream disaster. To promote these exports, rupee could have been devalued. What matters is the *GDP GROWTH* per year. Not the exchange rate. If you think exchange rates are indicator of performance of economy, then you should go watch some cat videos or something. Its way above your paygrade to talk about these things.

[@atherzaidi5871]

I live in Europe , what can I buy in Rupee here ? Nothing . If india wants to save Dollars , it has to allow NRIs to bring gold into india without duty. Right now India imports huge amount of gold , dollars for it go from India . However we NRIs are already outside, if we buy gold in Europe, Dubai etc it will be from dollars , euros , pounds that are already outside the country . When we bring this gold into india we reduce the local demand , some of it we might also sell in india which will be a rupee trade . Government will save Dollars, NRIs will earn some money which we will most probably spend in shopping in india and India gets gold in its market , everyone wins except the customs guys harrasing people for every chain or ring they buy at Dubai airport after working 12 hours shift at a construction site for an year . PS : India imported 50 billion dollars of gold last year.

[@jamesbluntjamesblun1]

Keep your golden dreams in Europe, if you want to buy pakoda pay in Euro 😂

[@atherzaidi5871]

@jamesbluntjamesblun1 buying pakoda in any other currency in Illegal here. Rupees are not a legal tender in Europe. Let' assume an Indian store here sells pakoda in rupees to other Indians, he can be jailed or fined.

[@liquidswordfish]

Gov wants tax on your gold

[@satyamohankodavatiganti8734]

Well said atherzaidi...It is a big pain rendered by the custom officials when we take gold ornaments which we buy in these countries with hard earned money and after paying taxes...My experience with custom officials at Hyderabad is quite bad and my friends say that these guys are known for their big bribery amounts and the harassment rendered to the passengers. We do not smuggle gold but carry our own ornaments bought with legal money...Wish BJP Govt put an end to these silly custom rules and end the corruption at airports and harassment especially in cities like Hyderabad

[@bhuvanasenthilvel5246]

Well said

[@chandutomaz]

Indian rupee lost 45% value in last 10 years. Hope the Government does something about it.

[@c00lguy12345]

That's not their focus though.

[@darshaks111]

Yes,Government has been doing HINDU-MUSLIM to divert attention of the people from their failures..😂😂

[@jailreddy420]

​@@darshaks111ok what about congress planning to do scams no government

[@cookmaster3626]

RBI thinks higher the INR to $$ or Euro more valuable the currency is.

[@datacoders2048]

Dollar falling and share market falling...all business wipe out ...we are literally become africa ...we give to wrong person ....increase tax on fii become tredemous mistake they made...illerate india

[@GyanniBubba]

How much GST will Madam Nirmala Ji impose on this too?

[@amardeepsidhu2871]

Unfortunately anyone opened the account will face devaluation top of that inflation and income tax if you make any money on interest. No NRI money is safe in India good luck dealing with banks and government if something goes wrong.

[@Boopathydubai]

once you deposit or convert your foreign currency to INR, the value of the foreign currency will be lost.

[@raghavendravishwas5929]

To tax NRI peoples hard earned money..GOI ne toh hadh kardi

[@cookmaster3626]

Whether they Tax the earnings from these accounts in India or not is irrelevant. If you are a US citizen you have to declare the earnings in India accounts and pay the tax anyway. It is the hassle of having INR accounts, maintaining it, every year certifying KYC which I call it "Kaun hai ye Ch***iya" validation. not worth it.

[@raghavendravishwas5929]

@cookmaster3626 😂👌

[@User_Yuga_]

FM want to tax for outward remittance money post income tax but now they want free inward remittance? No free lunch let rupee reach 100 per dollar. we will get better valuation.

[@mayankindian3750]

Rupees will appreciate 😊

[@AmitJha-d7l]

Worst they have escaped from India not to have anything to do with India apart from meeting their loved ones

[@rockyjohnson1775]

Anything to do with India ?? They are earning in dollars and purchasing property in gurgaon even in dholera for real estate business….

[@obsessedwithlawnoddswithgr2092]

you are so right Amit.

[@MohammedIsmail-br4cy]

Why would someone convert dollars, pounds and euros when rupee value is going down so fast... India needs to strengthen its rupee first...

[@Rk-dq8yc]

first fix your stupid kyc rules 😩 nri has to take a flight, leaves and spend lakhs just for a kyc process ❗️

[@nrayc]

One lived in UAE for 30 years, and over that long period purchased gold jewellery every diwali for personal use/ family/ savings. After 30 years when you return back to India permanently, you cannot bring your jewellery back that you have own over 3 decades, barring a minuscule value. Rest you have to pay huge import duty & also face harassment by customs. That is illogical bullshit. The only option is sell of your personal jewellery and repatriate the funds to NRE. Your jewellery is gone. 😡🤔

[@gastronomistmd5078]

When the rupee is crashing 15% in less than six months, who would want to hold INR 😂😂…

[@Boopathydubai]

True, once you convert foreign currency to INR, the value of the foreign currency will be lost.

[@Boopathydubai]

😢😢😢😢

[@siddharthajain5356]

So you are just exaggerating the percentage without using your brain? Calling a 3.5% fall as 15% fall??? Kindly use Brain while typing any nonsense on social media

[@Hypertrophy1971]

Cmon all currencies are down against USD…surprised INR hasn’t gotten to 92 yet with the huge threat AI has in store for the software svcs exports

[@manaoharsam4211]

Every year Rupee is devalued. So if you want to Move to India it is ok. Dollar has been a strong currency. I find USA is far cheaper then Singapore or Even India in some cases. USA home prices 4 crores, India some cases home prices much above 4 crores . So you can easily see how devalued India Rupee is.

[@british-indian]

I am going to open an Indian Rupee account in London . Amazing move 👌🙏

[@Synergy-xj6zi]

Rupee at a free fall vs $

[@anirbansaha8242]

Who wants to keep money in INR...the worst performing currency

[@karagis75]

No one holds currency...so don't worry

[@Boopathydubai]

once you deposit or convert your foreign currency to INR, the value of the foreign currency will be lost.

[@PriteshPaul]

Great move we must educate people and market rupee.

[@jerry-sb1238]

They want to tax them as well.. Wasooli Bai tax

[@raghavendravishwas5929]

Correctly said..

[@Love-wz4vg]

Should we tax dalits now

[@seisanft7540]

FM Nirmala ; if the deposit is in notes=12% tax & if it is online transfer then it is 35% bcz it’s a modern transfer

[@BG-qr4sm]

Banks make it so difficult to do the smallest thing and that’s frustrates NRI’s. They need all documents to be submitted in person, or mailed to them. They don’t realize mailing confidential information is so risky: In an attempt to protect its customers, they have made banking and investing so difficult that NRI’s would rather keep the money overseas. With the rupee loosing value, NRI’s loose money when they repatriate. I would avoid dealing with Indian banks, especially banks like HDFC. It is good to shout Modi, Modi during his visits, but doing business in India is a different matter.

[@Achintyanath]

Government of India is declaring Indian students as NRIs and charging flat 20% tax as well as surcharges from them. How is this fair?

[@Karthickmasanmasan]

Make INR attractive (now a day's depreciates a lot) then we can think more.

[@Dhelectro]

Having NRE account with SBI and then ICICI. I never found it is easy process. Any issue occur then you end up with long lasting issue which will never resolve. For example: when I had banking app issue with ICICI that it suddenly stopped to creating new FD. So I have reported this issue and their customer service everytime asking mobile network, model, os, etc. I gave it almost 10-15 times. Then I fed up. Also, user experience is very poor with their mobile app. It takes a while to open and then request for fingerprint scan comes after several seconds. Once app opens the account statement and balance content take a minute to load. Search facility and menu arrangement is very awkward. Looks like after designing app they are not using it and no improvement they are making. On top of this link Adhaar and other stuff every year!! Majority of NRI hasn't got PAN, Adhaar.

Better to save in other currency as well, present day economic turmoil can impact any currency.

[@Pavanrvss]

After few years they will put tax on your amount and limit your transactions, if you cross this much transactions..you have to pay Gst, IIGST, income tax, abroad earnings tax... Etc.. Thank you.. Pls stop giving free bees then collect, we are ok to pay tax..

[@saurabah]

Stopped investing in India completely because of more and more taxes with no services for those excessive taxes whatsoever.

[@cookmaster3626]

"Making INR an internationally acceptable currency". RBI must be joking. Opening an acct in INR us worthless after discounting for buy / sell differential, and the declining value of Rupee. Add to it the complexities and worthless documentation in this digital age. Three countries that accept are Pakistan, Sri Lanka and Bangladesh.

[@GyanniBubba]

GOI charges tax even on NRI's own money they send for outward remittances to own account abroad. Ridiculous!

[@vijayjayaraman5990]

Why would an NRI want to do that when they can simply transact in dollars and do international transfers to India on a need basis

[@darktruth5876]

I am NRI but NRI Don't prefer rupee because Unstable nature .Countries like UAE etc giving option better dirham which pegged to Dollar more stable than rupee .Rupee is not Fully convertible nor preferable in trade and investment.India don't have Export dominance which will promote higher growth rate and Trade surplus which will give stability to Rupee.

[@Chintoo10]

The stupidest thing is if you have a savings account left in any bank and want to close it, you cannot do it while abroad. Some banks like SBI want you to visit home branch to close the account, its so frustrating.

[@urldroidsuperbot2139]

The rupee can be used in foreign trade when supply, reliability is high and costs low. RIght now, if I am travelling to any country, in Asia or Africa or Middle East or even Europe, it is far easier to change rupees to dollars and later change dollars to the currency of the nation. If one Indian is coming to the UAE or Japan, and wants to buy Yen or Dirham, with rupees from dealers in India, he will face lack of availability of the other currencies and such poor exchange rates, that converting to dollars in India and dollars to dirham or yen is more beneficial. Unless this matter is resolved, there will not be any significant uptake of rupees.

[@ansh201]

As an Nri dealing with the Indian banks is the worst experience. Employees Don't know what is customer service.

[@vaibhav07]

For exporters who can get paid in rupees for their exports, if they try to use rupees for imports, why would anybody in that country accept Indian currency ? Except India's immediate neighbours, large scale transactions in INR is a distant dream. Not even UAE would accept.

[@karagis75]

Difference can be settled in Gold or investment in India....UAE will support local currency trade.

[@karagis75]

Avoid useless dollars at any cost

[@majimakiriyu4872]

​@@karagis75😂😂😂 Oh yeah dollar is useless .Tell that to people of other countries they will laugh alongside u

[@veerar8203]

Tell that to Russia and vrics countries bro ,it can be strengthened only if Trump ​@@majimakiriyu4872 occupies greenland if that happen dollar will strengthen, but i dont see strengtgening of dollar, future is brics

[@karagis75]

@majimakiriyu4872 keep laughing...All currencies are Rubbish

[@DhanushNandh]

Firstly, address the issues on making the account opening process easier and more seamless for NRIs (NRE and NRO accounts) with fewer documents and quicker verification. Also, a robust digital app is required to effortlessly manage from anywhere in the world. Focus more on providing timely and effective solutions rather than closing cases prematurely to meet KPIs and avoid unnecessary loops by assigning dedicated agents capable of resolving issues efficiently.

[@ramandeep2764]

First, allow the NRI to open accounts and then block them access . No, thank you. I'd rather invest in crypto

[@krisdrk4161]

The FM is delusional. 😅

[@vantagerscc3092]

INR is the shitty currency, depreciate 4% every year against $! what is the purpose? All NRI move ur hard earn $$$ out of India, worst country to invest, currency devalue by4-5% every year, 12% tax on your profit, general inflation 8%, energy inflation 16%, food 20%, return 8-12% you earn nothing! keep in $$$ and invest in other market.

[@superman-b4f]

the NRE/ NRO both accounts should be free to move. the tax, conversion fee eats up all the efforts we put in. made a huge mistake by parking funds in NRO account.

[@sr8965]

Stop Tax terrorism. NRIs will invest. Taxes are ridiculous. Disgusting to see GST for every transfer.

[@ag4eng]

Do they understand how difficult banking is in India. Fix the red tape first.

[@rajendrabareto8065]

I opened nre account and the charges seems to be so high that I never transferred after that in 3 years.

[@shr4013]

If Modi has announced this ,all bhakts will open immediately

[@Boopathydubai]

😅😅😅😅 if you are a really anth bhakt, then you should compulsory deposit all NRI s😅😅😅😅

[@Boopathydubai]

I am sure there are no bkakts deposit in rupees account

[@SundaraCholanNorge]

duty free shops in India not accepting INR they want USD, change that first

[@Ramsamy-y7u]

open a NRI bank account and NRI demat account are the biggest headaches one will encounter in banking process. NRI money is not taxable but if they invest in stocks or any other instrument it becomes taxable. Then why would any one send money to India, just to park the money in NRI account and watch it depreciating?

[@Update2047]

In December 2024, I visited India and discovered that my SBI account was on hold, leaving me unable to access it. The issue arose because my KYC (Know Your Customer) details were over two years old. I spent two days at a local SBI branch trying to update my KYC. During this process, I was informed that to keep the account active, I need to perform one transaction every six months and update my KYC every two years. Failure to do either will result in the account being blocked or placed on hold, rendering it inaccessible. Unfortunately, the local branch staff were not well-informed about the specific requirements and procedures for NRI accounts, which added to the frustration.

[@BharathJathan]

We will open account only after govt sacks tht idiot FM Nirmal popcorn seethram , nobody shld support government moves unless they stop taxing middle class.

[@CTRAP_TTDGovinda]

Good 👍.

[@rangasankar644]

Just like many have posted before, rupee has been consistently depreciating against dollar. So what is the point of converting dollars and keeping it as rupees?

[@shahankhan7685]

Gold is a better investment.

[@creativeleodaily]

Ok then give us Dual Nationality Please, we deserve that...

[@siddharthae1]

I twitt same, Weeks back to pmoindia account

[@Josh-ji7fh]

It is a pain to keep India bank account. Accounts frequently go dormant. Frequent request for overseas resident status proofs. Apps continuous;y have trouble sending OTP to foreign numbers.

[@PhotonShower]

Indian banks are head aches and illogical..im an nri for 20+ years..sometimes the logic of the bank employees are maddening

[@rajneesh2177]

Will it work for OCI card holders as well?

[@ahmaruddin5782]

Not clear how this will be better than nre accounts

[@SangeetaSharma-py2xj]

Bringing indian currency here will have its own cost.😮

[@ashadmemon]

Stupid move, If I were the FM of India I would rather allow NRIs to hold USD, EURO and all major foreign currency account in India. These people dont understand the real value of the rupee, its SHIT.

[@Love-wz4vg]

Dedollarization is going to happen INR IS going to become strong compare to Usd

[@PraveenKumar-gt9nv]

Great move.

[@pawanraj8248]

Short and simple answer:- because dark days are coming for NRIs. If you don't believe, you'll see. Take screenshot

[@karagis75]

Yes 💯 these people never prepare

[@abhi36292]

why so

[@darthvader2995]

Lmao, bruv it's our country which is giving out freebies and wrecking the economy

[@akj3388]

NRIs were once called traitors by Mani Shankar Aiyar

[@rajarora2097]

I know Rupee will be 2047 to a Dollar by Year 2047 ..

[@Boopathydubai]

once you deposit or convert your foreign currency to INR, the value of the foreign currency will be lost.

[@jamesbluntjamesblun1]

Why would most NRI who were fed up with indian unemployment and left india for good want to invest in Indian Bank account . If you have ferrari why would you fancy maruti 😂😂

[@SMCGPRA]

To open lot of documents which will make us naked FM another method to tax

[@parthar101]

Any information on how these overseas rupee account can be linked with UPI would be very helpful. Thank you !

[@quillo2]

It may not look like much right now, but this is a small step in moving towards a multi-polar, multi-currency world. Rupee is currently crashing against the dollar. But this signals the prep for long term trade transactions. Payments bypassing dollars are already happening among prominent countries like Russia, China, Saudi, Brazil, India and so on. This is just prep for the long-term geoeconomic scenario.

[@karagis75]

I always diversify ..

[@venrams]

There are third parties like Remitly who dump more rupees for a dollar than values by Indian banks, do they get discounted Rupees from trade surplus Russia

[@vidhyanandcs]

Why should an NRI hold falling rupee when they can hold their money in USD or EURO??? Yes. It will be good for inporters and exporters

[@akj3388]

Everyone should know that Forex market is totally out of RBI's reach.

[@priyasingla2924]

How will it happen, rupee devaluating continuously, too much of paper work and OTPs and taxation process

[@himabindu6553]

I am doing it Today🎉🎉

[@caddraj1973]

How much is going to be taxed on the transaction?

[@tejasasodekar]

Khup ushira jaag aali

[@RRajkumar-i1o]

If it's not that much of a loss to the government of India.it should come up with the scheme like UPI i.e., without any transaction charges globally to combat the dollar.

[@syedjameel612]

Is it worth the way rupee is depreciating over dollar

[@srinivas6986]

Shaktikant Das appeared along with Nirmala Sitaraman 😂

[@pramodjoseph6107]

Something is hidden. Later tax burden and spending accountability follow

[@sunilkumarreddyvelagacherl1488]

What is the use to NRI for opening rupee account?

[@santanodcosta3360]

No NRI wants to open rupee accounts nor keep their savings in INR unless they are andh bhakts.

[@himabindu6553]

not AndhaBhakths...True Patriots..I will open Rupee account and I always send money home and always invest in India..

[@mohitbansalstocks]

World's most third class currency, who wants to keep this rupee. Keep USD, EURO, Pound, CHF, etc

[@rjclue2630]

Thai bhat is good in Asia

[@BHIKARI-PAKISTANI-PM]

ALL DUE TO CONGRESS

[@amithajay9275]

​@BHIKARI-PAKISTANI-PM i think this is modi third term right

[@karagis75]

​@@amithajay9275opposition shows the path to freebies....modi also doing to win elections....end result...Rupees under threat

[@BHIKARI-PAKISTANI-PM]

@@amithajay9275 BECAUSE CONGRESS MAKE MESS IN 70 YEARS THAT'S WHY WHY WE HAVE TO SEE THESE DAYS. I ALSO HATE BJP BUT NOT MORE THAN CONGRESS.

[@Sheela9999]

Who in sane mind wants to open depriciating rupee account 😂

[@Boopathydubai]

once you deposit or convert your foreign currency to INR, the value of the foreign currency will be lost.

[@rkumar9168]

We are dealing with so much documentation even for small transactions unnecessarily documents too much critical process it’s not easy to understand

[@syamantakpati9009]

Why?

[@mohankiran2869]

What banks is that?

[@mtrest4]

The bank of mom and dad.