Question

difference between nre and nro

Answer 1

NRE:

In this account rupee denominations can be maintained. The account can opened in the names of two or more non-resident individuals provided all the account holders are persons of Indian nationality or origin. Amount held in the NRE account are freely repatriable and you cannot send money by any other means except as remittance from abraod or transfer from another NRE account.

NRO

NRO accounts may be opened / maintained also in the form of rupee denomination could be in the form of current, savings, recurring or fixed deposit accounts. The account can be held jointly by residents. You can transfer money into an NRO account from any account - even other individuals residing in india can transfer money into an NRI's NRO account.