India Won't Let You Keep That Bank Account Anymore

India's central bank requires non-resident Indians to convert their regular domestic savings accounts into NRE or NRO status. NRE (Non-Resident External) holds money earned outside India, NRO (Non-Resident Ordinary) holds money generated within India, like rental income or the sale of property. It's not optional, and Amol Desai says many new immigrants don't realize it or simply ignore it, which creates real risk down the line.

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