Difference between FCNR (B) and NRE Deposits
FCNR (B) deposits and NRE deposits can be opened by Non-Resident Indians or persons of Indian Origin (PIO) or Overseas Citizens of India (OCI). The difference between FCNR (B) deposits and NRE deposits is that the FCNR-B (Bank) deposits are maintained only in Foreign Currencies term deposits and maturity of these deposits is payable in terms…