Resident Foreign Currency – DRC is a type of bank account that can be maintained by residents of India who hold foreign currency. It is a special type of account that allows individuals to hold and manage their foreign currency earnings in India.

RFC-DRC account was introduced by the Reserve Bank of India (RBI) to provide individuals who are either returning to India after residing abroad or have foreign currency earnings, with a convenient way to hold and manage their foreign funds. The account allows residents to freely hold and transact in foreign currency, without the need for conversion into Indian rupees. With Union Bank of India, RFC deposits can be in designated currencies such as USD, GBP, EUR, JPY, CAD & AUD.