What is the difference between an FCNR and an NRE account?
1.NRE (Non-Resident External):- Accounts are opened by NRI in banksto make investment in Fixed Deposit and Recurring Deposit. 2. FCRA (Foreign Currency Non- Resident):- this accounts are opened to receive payment from foreign or donation from foreign countries in case of Trust. in trust which are receiving the contribution from foreign countries we can see FCRA accounts in their books of account.