Non-Resident Indians (NRI) must follow the rules and regulations laid out by the Foreign Exchange Management Act (FEMA) and the RBI rules.
Tag: NRI Banking
NRIs remit highest ever USD 107 billion in FY 2022-23: RBI Governor
The Governor of the Reserve Bank of India in a statement announced that inward gross remittances from the NRI for FY 2022–23 had reached a record high of USD 107.5 billion.
India-born Ajay Banga set to become World Bank chief unopposed
Ajay Banga, the US pick to head the World Bank, appears almost certain to become the anti-poverty lender’s next president after nominations closed yesterday with no country publicly proposing an alternative candidate.
Pandemic restrictions led to idea of launching consolidated services provider for NRIs: Anup Bhasin
In an exclusive interview, Anup Bhasin told Connected to India about what led to the formation of Star NRI Services.
Emirates NBD mulls plans for expansion in India
One of the major banking groups in the Middle East North Africa and Turkey (Menat) region, Emirates NBD, has announced its plans for further expansion in India, following approval from the Reserve Bank of India (RBI) to open two additional branches.
Not mandatory for NRIs to link Aadhaar and PAN cards
NRI News: Indian diaspora in the UAE have been advised to ideally link their Aadhaar and Permanent Account Number (PAN) by the extended deadline date of December 31, 2019.
Indians moving to the UK will be able to open an ICICI account before arrival
In a first-of-its-kind service by an Indian bank in the United Kingdom (UK), ICICI Bank UK PLC will allow digital account opening through its mobile application.
Indian government to form panel for merger of NRI, FPI routes
The Indian government is planning to form a high-level panel to look into the merger of NRI investment and Foreign Portfolio Investment (FPI) routes, according to media reports.
SBI Singapore launches new heartland branch
State Bank of India (SBI) Singapore unveiled its new branch office at Jurong East heartlands on Monday with the High Commissioner of India to Singapore, Jawed Ashraf, present as the guest of honour.
State Bank of India offering home loans to NRIs
India’s largest bank, the State Bank of India (SBI), has announced the launch of a scheme providing home loans to Non-resident Indians (NRIs) and Persons of Indian Origin (PIO).