Once your status changes to NRI, FEMA does not permit you to operate a regular resident savings account — it must be converted to an NRO account, or you must open fresh NRE/NRO accounts. Continuing with a resident account is a FEMA violation that attracts heavy penalties. Which account you need depends entirely on where your money comes from. The Basics Parameter NRE Account NRO Account
“NRI” is not one status — India defines it twice, under two separate laws that do not agree with each other. The Income Tax Act decides how much of your income India can tax, using a strict count of days spent in India. The Foreign Exchange Management Act (FEMA) decides what you can own, invest in, and repatriate, using yourintentionto stay abroad. You can be a
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