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Main Features
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All types of accounts can be opened under the scheme such as Current, Savings, Recurring and Term Deposit.
Joint accounts:
The account can be opened jointly with Resident and / or with non- Resident Indian
Proceeds of remittances received from outside India through normal banking channel or foreign currency notes tendered by the account holder during his temporary visit to India or transfers or legitimate dues in India of the account holder.
Interest earned on these deposits shall be subject to at source deduction of Income tax at prevailing rates. |
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