<p>State Bank of India (SBI) has introduced a digital facility for Non-Resident Indians (NRIs) to effortlessly open NRE and NRO accounts (both savings and current accounts) through its mobile app YONO.</p>.<p> This service is designed for NTB or 'new to bank' customers, providing them with ease and efficiency in the account opening process, SBI said in a statement on Monday.</p>.<p> This initiative fulfils a long-standing demand from NRI customers for a hassle-free way to open and manage their accounts in India, it said.</p>.CBI FIR against Mumbai-based developer, CMD for defrauding SBI and 15 lenders of Rs 3,800 crore.<p> An Non-Residential External (NRE) account is a bank account opened in India in the name of an NRI, to park his foreign earnings; whereas, an Non-Resident Ordinary (NRO) account is opened in India in the name of an NRI, to manage the income earned by him/her in India. These incomes include rent, dividend, pension, interest, etc.</p>.<p> The bank has leveraged technology to create a seamless, digitized account opening process that ensures efficiency and accuracy, making it a one-stop solution for NRI banking needs, it said.</p>.<p> Customers can track the status of their applications in real-time, keeping them informed every step of the way, it added.</p>
<p>State Bank of India (SBI) has introduced a digital facility for Non-Resident Indians (NRIs) to effortlessly open NRE and NRO accounts (both savings and current accounts) through its mobile app YONO.</p>.<p> This service is designed for NTB or 'new to bank' customers, providing them with ease and efficiency in the account opening process, SBI said in a statement on Monday.</p>.<p> This initiative fulfils a long-standing demand from NRI customers for a hassle-free way to open and manage their accounts in India, it said.</p>.CBI FIR against Mumbai-based developer, CMD for defrauding SBI and 15 lenders of Rs 3,800 crore.<p> An Non-Residential External (NRE) account is a bank account opened in India in the name of an NRI, to park his foreign earnings; whereas, an Non-Resident Ordinary (NRO) account is opened in India in the name of an NRI, to manage the income earned by him/her in India. These incomes include rent, dividend, pension, interest, etc.</p>.<p> The bank has leveraged technology to create a seamless, digitized account opening process that ensures efficiency and accuracy, making it a one-stop solution for NRI banking needs, it said.</p>.<p> Customers can track the status of their applications in real-time, keeping them informed every step of the way, it added.</p>