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Everything You Need to Know About State Bank of India NRI Accounts May 11, 2019 12:10

State Bank of India, the country’s largest lender with over 24,000 branches in India, is widely known for offering banking services to the Non-Resident Indians (NRIs). According to the lender’s website, the bank provides multiple…

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Now NRIs Can Open Account in IDBI Bank Without Submitting Paper Documents April 17, 2019 09:39

The Non-resident Indians, living in nearly 40 countries, can now be able to open an account in IDBI Bank without submitting paper documents, the lender said on Tuesday.IDBI (Industrial Development Bank of India) has launched…

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NRIs Can Soon Be Able to Invest in Indian Government Securities April 05, 2019 10:45

The Reserve Bank of India, while announcing the first monetary policy for the financial year 2019-20, made its intentions clear to open up Indian government securities (G-Sec) market for Non-Resident Indians. That is to say,…

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Quick Guide to Open Resident Foreign Currency Account for Returning NRI December 31, 2018 10:17

A returning Non-Resident Indian (NRI) would have assets and bank accounts abroad, as well as income generated from these assets would be in a foreign currency. According to the report, a returning NRI has the…

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NRI Taxpayers Can File Returns Manually for Nil/Lower TDS Certificate December 27, 2018 12:15

The resident and Non-Resident Indian (NRI) taxpayers waiting to apply for deduction of taxes at a lower or nil rate on total income are now allowed for the manual filing of a form, according to…

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Types of Bank Accounts for Non Resident Indians September 30, 2013 12:30

There is a great deal of confusion about the NRE, NRO and FCNR bank accounts for NRIs and the differences, comparison etc.  Here is a quick guide:                                      Non Resident External (NRE) Account Source of funds:…

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Inheritance, Gifting Rules in India and US September 30, 2013 12:14

What happens when you inherit money or property or are gifted the same? Read below to learn more about the rules for inheritance and gifting in India and the USA. US Rules on Inheritance and…

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Best use of credit card September 30, 2013 12:09

Credit cards have different connotations for different people. Some are allergic to them, some use them to avoid carrying cash and still others see great ease and convenience in their use. I, per se, belong…

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Risk free investment avenues in India for NRIs September 30, 2013 12:05

With rupee touching new lows every week, the non-resident Indians are showing keenness to repatriate money to India or invest in the country.  But, by virtue of being a non-resident Indian, they are not allowed…

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Can NRIs invest in shares? September 30, 2013 12:01

Yes, a Non Resident Indian (NRI) is allowed to invest without any limit on non-repatriation basis in shares and convertible debentures of Indian Companies issued either by public issue or private placement or right issues…

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Who can open a foreign currency account? September 30, 2013 11:53

A person resident in India who has gone abroad for studies or who is on a visit to a foreign country may open, hold and maintain a Foreign Currency Account with a bank outside India…

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What is a Resident Foreign Currency Account? September 30, 2013 11:48

Returning NRIs /PIOs may open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to transfer balances held in NRE/FCNR (B) accounts. Proceeds of assets held outside India at…

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