New Delhi, July 24 -- For many Indians living and earning abroad, there is often a need to convert their overseas earnings (in foreign currencies) into Indian rupees to support their family back home or invest in assets in India. This article explains the key types of NRI account and helps you decide which one best suit your needs.

A Non-Resident Ordinary (NRO) savings account is a type of NRI account which helps to manage NRI's income earned in India. This account accepts deposits in both Indian Rupee and foreign currency and withdrawals are available only in Indian Rupees.

AnNRO savings account can be operated not only by the NRI account holder but also jointly with a resident Indian or through a Power of Attorney (POA), allowing the ...