Upon becoming non-resident individuals, existing resident accounts are classified as NRO accounts.

These accounts can be opened by Non-Resident Indians (NRIs) viz. non-resident persons of Indian origin or nationality (other than nationals of Pakistan and Bangladesh).

These accounts can be opened in Indian Rupees in the shape of current/savings/fixed deposits.

They can be opened jointly with residents with the facility of nomination.
All legitimate dues in rupees (which include local credits also) and proceeds of foreign remittances can be credited to these accounts. The funds held in the NRO accounts can be used for all local payments.

Interest rates applicable thereon are same as on resident accounts. These accounts are subject to deduction of tax by the bank as per Income-Tax rules.
Funds held in NRO accounts can be repatriated abroad upto USD 1 million financial year on account of Education, medical and sale proceeds of immovable property/assets, subject to certain conditions as stipulated by Reserve Bank of India.