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NRI Deal News

NRIs deposit $11.24 bn in April-Nov on Jan-12-2013

Source – The Indian Express, Mumbai, Sat Jan 12 2013, 08:54 hrs Tweet   Dollar inflows from non-resident Indians into bank deposits have surged during April-November this year to $11.24 billion from just $6.39 billion a year ago as higher interest rates and a weak rupee lured NRIs to invest here.   During these eight months, non-resident (external) rupee accounts saw an inflow of $12.79 billion, six times that of last year, data from the Reserve Bank of India showed.   Non-resident (ordinary) rupee accounts and foreign currency non-resident accounts saw an outflow this year as against an inflow last…  Continue Reading…

Why NRI`s need to be careful about Identity thefts? on Jan-11-2013

Source – moneycontrol.com, Fri, Jan 11, 2013, 11:56 am   Ram Narain is an accomplished non resident Indians (NRI). Today, he is one of the few Indians who have created a home far away from home. While working for a Fortune 500 company in the US, it occurred to him that he neglected his real home at the expense of the one in which he stays.   Ram Narain is an accomplished non resident Indians (NRI). Today, he is one of the few Indians who have created a home far away from home. While working for a Fortune 500 company…  Continue Reading…

FCNR accounts for NRIs: All you wanted to know on Jan-09-2013

Source – The Economics Times, Jan 9, 2013, 08.10PM IST   With the rupee continuing to remain volatile, the Foreign Currency Non Resident (FCNR) account can be a good option for Non Resident Indians (NRIs) looking to invest in India without worrying about currency risks. Let us look at the key aspects of the FCNR account.   What is an FCNR account? An FCNR account is a term deposit account that can be maintained by NRIs and PIOs in foreign currency. Thus, FCNRs are not savings accounts but fixed deposit accounts.   What foreign currencies can one maintain in FCNR…  Continue Reading…

India Inc may double NRI hiring this year on Jan-04-2013

Source – Times of India, 04 JAN, 2013, 01.22AM IST:   BANGALORE: A growing desire in India Inc to induct global talent with international exposure is expected to result in a near doubling in the recruitment of non-resident Indians (NRIs) this year.   The country is expected to hire around 50,000 NRI professionals this year, compared to 27,983 recruited last year, finds a survey by a global recruitment tendering platform MyHiringClub.com. Bangalore will lead this recruitment, accounting for 11,894 jobs, followed by Delhi-NCR and Mumbai with 10,320 and 6,780 jobs respectively.   Among the sectors surveyed, IT & ITeS is…  Continue Reading…

Betting on exchange rates, NRIs lose money on India deposits on Jan-03-2013

Source – Hindu Business Line, 03 JAN, 2013:   An analysis of exchange rates during the year reveals that the timing of a deposit, as well as the tenure, can mean all the difference between a significant gain or a sizeable loss on an NRI deposit.   Non-resident Indians pumped in more money than ever before into the country’s banks this fiscal, betting on a depreciating rupee to boost returns. The cumulative value of deposits maintained by NRIs in the country’s banks soared to an all-time high of $67,018 million in September 2012.   But forex fluctuations have not worked…  Continue Reading…