Banking Info

Quick Guide to Open Resident Foreign Currency Account for Returning NRI December 31, 2018 04:47

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…

NRI Taxpayers Can File Returns Manually for Nil/Lower TDS Certificate December 27, 2018 06:45

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…

Types of Bank Accounts for Non Resident Indians September 30, 2013 07:00

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:…

Inheritance, Gifting Rules in India and US September 30, 2013 06:44

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…

Best use of credit card September 30, 2013 06:39

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…

Risk free investment avenues in India for NRIs September 30, 2013 06:35

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…

Can NRIs invest in shares? September 30, 2013 06:31

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…

Who can open a foreign currency account? September 30, 2013 06:23

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…

What is a Resident Foreign Currency Account? September 30, 2013 06:18

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…

Karnataka Bank hikes NRE deposit rates September 30, 2013 06:13

Mangalore-based private sector lender Karnataka Bank on Tuesday said it has raised its NRI deposit interest rates by 50 basis points for three years to 10 years with maturity effective from September 2, 2013. "The revised…

NRIs still holding back in hope of further plunge in rupee September 30, 2013 06:04

Luring Non-Resident Indians (NRIs) with attractive investment opportunities may be a tested way of shoring up the domestic currency during the crisis, but this time it seems like the policymakers will have to wait a…

Pros and Cons - External Account for Non Resident September 30, 2013 05:56

Persons of Indian nationality or origin residing outside of India may open, with authorised banks in India, Non-resident External Accounts (NRE Accounts), designated in rupees. These accounts can be in savings, current, or term deposit…