Russia simplifies norms for Indians to open bank accounts with its financial institutions

New Delhi: Russia has introduced simplified norms for Indian nationals to open bank accounts with its financial institutions.

In a series of posts on 'X', the Russian embassy in India on Wednesday announced that now it will be possible to obtain a bank card in a partner Russian bank and initiate financial transactions, upon arrival in Russia by Indians.

This feature is especially convenient for Indian tourists and students, the Russian embassy said.

"We're excited to announce the decision of the Russian Government to introduce simplified norms for #Indian nationals seeking to open bank accounts with #Russian financial institutions. It is now possible to open bank accounts or deposit funds in Russian banks remotely.

Upon arrival in #Russia, it will be possible to quickly obtain a bank card in a partner Russian bank and initiate financial transactions. This feature is especially convenient for #Indian tourists and students," it said in a post.

"The process is straightforward: #Indian nationals wishing to open such a bank account are advised to approach an Indian bank that has a partnership agreement with the Central Bank of the #Russian Federation for guidance," it informed.