Where can I get an Indian bank account?

[yngmind]

I need an Indian personal bank account or EMI.

I guess I won't be able to register it as a foreigner, but I need one for one of my businesses, any recommendations?

Non-resident accounts are only available to Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs).

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Business Bank Account for your US LLC Remotely

 

[daniels27]

What do you need it for? India has very strict capital controls.

As a foreigner,‌ you can open an NRO or SNRR account. But they are only to be used‍ for honest transactions:
https://www.rbi.org.in/commonperson/english/scripts/FAQs.aspx

 

[yngmind]

For some products and services that‍ only be purchased using an Indian card and INR as a currency. I think the⁠ easiest way is just to find an Indian guy and pay him a small percentage.⁤

 

[letthelordbewithyou]

As a Foreigner it's⁠ virtually impossible unless you are employed in india

 

[cuno]

@letthelordbewithyou What do you‍ say to the above suggested ?

 

[letthelordbewithyou]

NRO is only for "indian Origin". As for Non-Resident Rupee Account (SNRR account) "Any person‌ resident outside India, having a business interest in India for putting through bona fide transactions‍ in rupees.

Technically this only allowed if you have a business or employed in India.⁠
Reserve Bank of India

 

[daniels27]

Actually, you mean NRI. For Indians⁤ NRI, for non-Indians NRO.

https://www.rbi.org.in/commonperson/english/scripts/FAQs.aspx?Id=3

 

[letthelordbewithyou]

non-Indians NRO, my bad.

 

[turmpy]

What's the outcome of the discussion you can open an account as foreigner with NRO‌ if you are willing to undergo total control of all your money ?

 

[daniels27]

Yes. You can. The account can only be used to spend money⁠ from abroad in India and you cannot get it back out unless the account was⁤ not open for over 6 months and you have not gotten any local money apart⁣ from interest. Also, expect the opening to be time consuming. In short, you can but⁢ I don't recommend.

 

[yngmind]

I guess banking there sucks, especially for the foreigners

 

[Sols]

I'd do this 100 times over rather‍ than go through the pain of opening and , worst of all , maintaining and⁠ using a personal account in India as a non-resident. As a domestic banking network, India⁤ is probably among the best in the world. But as soon as there's cross border⁣ involved, it gets horrendous.

It's easier to form an Indian company, hire a local director,⁢ and open an Indian corporate account. But even then, as soon as it's cross border,︀ you'll wish you never even started.

 

[letthelordbewithyou]

Exactly, hence the reason hawala thrives india.

 

[lavel]

Why would you open an account in India, what is the purpose?

 

[andrew28fl]

I have⁤ an Indian account because of my ties to the country. I wouldn't recommend Indian banks⁣ to an enemy. They find new ways to harass you every day, torture you even.⁢