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SNRR Account (Special Non-Resident Rupee Account)

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SNRR Account

An SNRR account is a rupee-denominated account opened by non-residents for specific business transactions permitted under FEMA (Foreign Exchange Management Act). It is ideal for foreign entities operating in India temporarily or for specific purposes.


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Eligibility:


Foreign companies, individuals, or entities not residing in India but engaging in permissible transactions such as investments, project execution, or trade under FEMA guidelines.

Key pointers

pointerAccount can be opened for the following purposes: Tax refunds, NCLT/Court settlements, Trade credits/ ECB, GIFT City, Settlement of import/export transactions

pointerThe tenure of the account is typically limited to the duration of the underlying contract or activity.

pointerTransactions must be in accordance with FEMA regulations.


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For more details, please contact your Relationship Manager or visit the nearest branch.
 

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