Process of opening bank accounts for foreign students simplified: RBI Simplifying bank account opening procedure for foreign students, RBI issued a notification asking banks to open a Non-Resident Ordinary bank account of a foreign student on the basis of his/her passport along with appropriate visa and immigration endorsement. As per the notification foreign students who intend to open a bank account will have to submit a valid address proof giving local address, in the form of a rent agreement or a letter from the educational institution in case of hostel facility within 30 days of opening the account. Banks have been asked not to insist on the landlord visiting the branch for verification of rent documents and to take up alternative means of verification of local address
Posted on: Wed, 04 Sep 2013 07:40:38 +0000
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