Glossary entry

NRI

NRI stands for non-resident Indian, a term commonly used for an Indian citizen who lives outside India, such as someone working in the UK. The word is used loosely in everyday speech, while banking, foreign exchange law and income tax law can each define residence differently, and a person may be treated differently for different purposes. The label matters because it affects which Indian bank accounts are suitable and what paperwork may apply. Confirm your position with your bank and official sources. See also: NRE account, NRO account, FCNR account, and the guide NRI Bank Accounts Explained.