NRI Deal News

A Financial Guide for NRIs before Leaving India on Feb-06-2013

Source – SiliconIndia, Wednesday, February 6, 2013 Tweet   Bangalore: “Pardesh Jaake Humme Bhul Na Jaana”, before your friends and family say this and you catch a flight to travel abroad, don’t forget to complete a few tasks in India which will help you save time and lots of paperwork once you become an NRI (Non Resident Indian).   Who is an NRI?   A Non Resident Indian (NRI) as per India’s Foreign Exchange Management Act 1999 (FEMA), is an Indian citizen or Foreign National of Indian Origin, resident outside India for purposes of employment, carrying on business or vocation…  Continue Reading…

NRI banking options to save, remit, invest on Feb-06-2013

Source – Live Mint, Wed, Feb 06 2013. 08:32 PM IST Tweet   Broadly there are three types of accounts that NRIs can open in India—NRE, NRO and FCNR.   Anu Anto, a non-resident Indian (NRI) who works as an information technology professional at Emke Group in Muscat, transfers money to his family in India every month. For this, he uses his non-resident (external) rupee (NRE) account at State Bank of Travancore (SBT) in Thrissur, Kerala. “I opened the account with SBT because it is close to my house and is easier for my family to withdraw money whenever they…  Continue Reading…

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…