Indian bank account for F1 and H1B visa holders

Are F1 and H1B visa holders allowed to have regular saving and FD account in India?

or they can open only NRI accounts?

how these accounts get taxed in both countries India and USA

You can have regular savind and FD accounts in India. You can opne NRI accounts as well, they would come with some additional benefits. You do NOT need to pay tax for money you sent from US, if you have paid taxes in US. There is no dual taxation.

What about money earned in India say by way of interests on bank SB accounts,shares, stocks, FDS etc,which are generated in India directly.?
Do you have to club this income to your US income and submit your return to IRS?
From h1b holder.