For opening an NRSR account, the account holders should submit an application in Form NRSR together with the undertaking therein duly signed to an authorised dealer. After these formalities are completed it is the responsibility of the accountholder/s to ensure that all operations in the account including investments/disinvestments are covered either by the general or special permission of Reserve Bank. Once this undertaking has been obtained, authorised dealers need not verify the source of credits and purpose of debits or the particulars of approvals for investments/disinvestments while permitting individual credits/debits to the account.

NOTE:
Opening of and operations on the accounts of individuals of Pakistani/Bangladeshi/Sri Lankan nationality require approval of Reserve Bank.