New Delhi, Sept. 20 -- If you are a non-resident Indian (NRI), transferring money between bank accounts in India can be an important part of managing finances across countries. The type of account you use matters, particularly if you plan to remit funds overseas or transfer money to another NRI account.

A NRO (non-resident ordinary) account serves as a convenient way for individuals living abroad to manage income earned in India from sources such as rent, dividends or pension.

Meanwhile, an NRE (non-resident external) account is meant for parking your foreign earnings in India, with an intention of supporting your family staying in the country, making investments, among others.

Unlike NRO accounts, NRE accounts can be held jointly only...