Consolidating balance of three saving bank accounts of different banks into one NRO account.

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An NRI client wishes to consolidate their Indian savings accounts into a single NRO account and subsequently close the remaining accounts. The query confirms that this action is permissible and there are no restrictions preventing the client from doing so. This allows the client to simplify their banking by maintaining only one NRO account in India.

rmalhotra

rmalhotra (Querist)
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29 October 2021 Sir,
My client was having saving bank accounts in Three banks before proceeding abroad and subsequently he became an NRI status. Now after that he wants to retain only one NRO a/c in India and for that he wants to shift his Others SB accounts fund balances into that NRO a/c and thereafter close his normal saving bank a/c.,. As he does want to maintain only one NRO bank accounts and wants to close other saving bank accounts. Can he do that .. Is there any restriction for doing that activity .
Please guide.