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9 things about nri accounts you must know; 5 fema rules you must know, what every nri must know about tds nri buying vacant land in india : 6 things you must know foreign exchange management act rules nri must know, 9 things about foreign currency non-resident accounts an nri must know, watch, india trip must attend issues, nri things to do, how to decide nri status rnor vs nri status, nri status, knowledge, rnor status Once you become an NRI, some essential measures that you should take to manage finances in India are as follows:. First is opening the accounts. Open two types of accounts: one, an NRE account, to bring your foreign income home; and the and the second, an NRO account, for your income in India. Also, close your existing savings accounts in India or convert them to NRO accounts. So, all investments within India, whether in equity or mutual funds, should be updated with your NRI status. Log into your income tax account, change your status to nonresident, update your foreign address, and thereafter file your income tax returns in India regularly. Well, these points are valid. Watch my videos for more detailed guidance and tips on managing your finances as an NRI.