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Resident Foreign Currency account for Returning Indians
EligibilityAccount can be opened by returning Indians i.e. those Indians who were non residents earlier, and are returning now for permanent stay.
Salient Features1. Account held in foreign currency.
2. RFC deposits are accepted in USD, GBP and Euro, Australian Dollar, Canadian Dollar, JPY, CHF, DKK and SEK. *
3. Account can be opened by transfer of NRE/FCNR funds or by remitting foreign currency notes or travelers cheques.
4. Foreign currency assets held outside India and brought to India at the time of returning for permanent stay can be credited to RFC account.
5. Foreign currency received as pension or any other superannuation or other monetary benefits from the employer outside India can be credited to RFC account.
6. Foreign currency received or acquired when a person was resident outside India as gift or inheritance from a person resident outside India can be credited to RFC account.

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