Resident Foreign Currency Current Account for Diplomats (RFCCD)

Yes, the Resident Foreign Currency Current Account is meant only for diplomatic personnels and non-diplomatic staff with official passport of foreign embassy. The account can be opened by diplomats staying in India for more than 182 days.

RFCCD account is not allowed for Diplomats of Nepal and Bhutan.

RFCCD is a current account with no minimum balance requirement. No interest earned on account balance in the account.

USD, GBP, EURO and YEN are allowed in RFCCD.

RFCCD Account can be debited for transfer of funds in INR to Resident Salary Account and remitting money abroad (as per RBI and FEMA guidelines and applicable charges).

Cash deposits and debits from RFCCD account either through branch or through ATM is not allowed.

Funds received through Inward remittance are the only permissible credit in RFCCD Account. You may convert foreign currency balance in RFCCD to INR and have the same credited in your salary account for daily expenses. However, once converted, the funds cannot be re-converted back into foreign currency.

While leaving India on completion of tenure, you can close the RFCCD Account & the available balance can be repatriated abroad.

1) Diplomatic personnel and non-diplomatic staff who are the nationals of the concerned foreign countries and hold official passport of foreign embassies.

2) Mandatory to hold a salary Account with ICICI Bank.