An OCI cardholder can open a domestic resident bank account, as permitted in certain cases.
According to the SBI website, “When OCI comes to India with an intention to stay for an indefinite period and stays more than 182 days, he/she loses the privileges available to NRIs/PIOs/OCIs. Such OCI is required to convert Non-Resident External Account or Non-Resident Ordinary Account or Foreign Currency Non-Resident Account accounts to resident account, or NRE/FCNB account to RFC account as the case may be. Further, an OCI can open all types of accounts allowed to a Resident customer.”
