Wealth Portfolio Login
Client      Advisor     
Forgot Password
 
NRI

Who is a Non-Resident Indian (NRI)?
A non-resident Indian (NRI) is an Indian citizen or a person of Indian origin who stays abroad for employment, business or vocation outside India, or stays abroad under circumstances indicating an uncertain duration.

Who is a Person of Indian Origin (PIO)?
A Person of Indian Origin means a citizen of any country (other than Bangladesh or Pakistan), if the person: (a) at any time held an Indian passport; or (b) or the persons parents or grandparents were citizens of India; or (c) is a spouse of an Indian citizen, or of a person referred to in (a) or (b) above. Other terms with vaguely the same meaning are overseas Indian and expatriate Indian. In common usage, this often includes Indian-born individuals (and also people of other nations with Indian ancestry) who have taken the citizenship of other countries.

According to Ministry of Overseas Indian Affairs, India has the second largest diaspora in the world after Overseas Chinese . The overseas Indian community estimated at over 25 million is spread across every major region in the world.

Who is a Foreign Institutional Investor (FII)?
An FII is an institution established or incorporated outside India which proposes to invest in Indian securities and is registered with SEBI.

Who is an Overseas Corporate Body (OCB) ?
An OCB includes overseas companies, partnership firms, societies and other corporate bodies owned predominantly by non-resident persons of Indian nationality or origin outside India.

Can an NRI maintain a bank account in India?
Yes. NRIs can maintain accounts in rupees as well as in foreign currency.

What types of rupee accounts may NRIs maintain?
There are 4 types:
1. Non-resident (External) Rupee Accounts (NRE)
2. Non-Resident (Special) Rupee (NRSR) Account
3. Ordinary Non-resident Rupee Accounts (NRO)
4. Non-resident (Non-repatriable) Rupee deposit accounts (NRNR)

What are NRE, NRO and FCNR accounts?

Non-Resident (External) Rupee (NRE). This is a Rupee account from which funds are freely repatriable. It can be opened with either funds remitted from abroad or local funds which can be remitted abroad.

Non-Resident Ordinary Rupee (NRO). This is a Rupee account and can be opened with funds either remitted from abroad or generated in India. These funds are non-repatriable. However, under certain circumstances, these are allowed to be repatriated.

Fully Convertible Non-Resident Rupee (FCNR). This account is similar to the NRE account except that the funds are held in foreign currencies and can be maintained in Pound Sterling,U.S. Dollar, Euro and Japanese Yen. FCNR accounts can be maintained only in the form of term deposits, i.e. a deposit kept for fixed periods ranging from 6 months to 3 years.

How do NRE, NRO and NRSR accounts differ?
Balances held in NRE accounts can be repatriated abroad freely, whereas funds in NRSR and NRO account cannot be normally remitted abroad but have to be used only for local payments in rupees. Consequently, funds remitted from abroad or local funds which can otherwise be remitted abroad to the accountholder can only be credited to NRE accounts

  • MF News
  • IPO News

Bumper Listing: Polycab India debuts with 18% premium at Rs 638 The Rs 1,345-crore public issue saw a massive subscription of 51.96 times during April 5-9, 2019
Tue, 16 Apr 2019 10:00:50 +0530


Metropolis Healthcare ends at Rs 959.85, a 9% premium over issue price Metropolis Healthcare#39;s market valuation was at Rs 4,814.90 crore on the BSE
Mon, 15 Apr 2019 16:34:19 +0530


Good Listing: Metropolis Healthcare debuts with 9% premium at Rs 960 The stock opened with a 9 percent premium over its issue price of Rs 880 while on the National Stock Exchange it opened at Rs 958.
Mon, 15 Apr 2019 10:07:37 +0530


Rail Vikas Nigam closes marginally higher at Rs 19.05 on Day 1 RVNL#39;s Rs 480 crore initial public offer was opened for subscription earlier this month with a price band at Rs 17-19 per share and was subscribed 1.8 times.
Thu, 11 Apr 2019 17:50:30 +0530


Rail Vikas Nigam debuts flat at Rs 19 on NSE, BSE The company raised about Rs 480 crore by selling 12.12 percent stake
Thu, 11 Apr 2019 10:10:35 +0530


Polycab India IPO oversubscribed 52 times on good response from institutional investors The issue was opened for subscription on April 5, with a price band at Rs 533-538 per share.
Tue, 09 Apr 2019 20:12:25 +0530


Subscribe to Polycab India: Geojit Financial Geojit Financial has come out with its report on Polycab India. The research firm has recommended to "Subscribe" the IPO in its research report as on April 04, 2019
Tue, 09 Apr 2019 12:04:26 +0530


Subscribe to Polycab India: Choice Broking Choice Broking has come out with its report on Polycab India. The research firm has recommended to "Subscribe" the IPO in its research report as on April 04, 2019
Tue, 09 Apr 2019 11:49:44 +0530


Polycab India IPO subscribed 1.18 times Price range for the offer, which is scheduled to close Tuesday, has been fixed at Rs 533-538 per share.
Mon, 08 Apr 2019 15:40:05 +0530


Subscribe to Polycab India: Prabhudas Lilladher Prabhudas Lilladher has come out with its report on Polycab India. The research firm has recommended to "Subscribe" the IPO in its research report as on April 04, 2019
Mon, 08 Apr 2019 11:37:32 +0530


Subscribe to Polycab India: Mehta Equities Mehta Equities has come out with its report on Polycab India. The research firm has recommended to "Subscribe" the IPO in its research report as on April 04, 2019
Mon, 08 Apr 2019 11:32:35 +0530


Metropolis Healthcare IPO oversubscribed 5.84 times on interest from QIB The reserved portion for qualified institutional investors has seen subscription of 8.88 times and non-institutional investors 3.03 times while retail investors part is subscribed 2.21 times.
Fri, 05 Apr 2019 22:02:53 +0530


Subscribe to Polycab India: Aditya Birla Money Aditya Birla Money has come out with its report on Polycab India. The research firm has recommended to "Subscribe" the IPO in its research report as on April 05, 2019
Fri, 05 Apr 2019 11:56:03 +0530


Polycab India#39;s Rs 1,346-cr IPO opens today; should you subscribe? Looking after strong fundamentals of the company along with the healthy growth prospects of sector, Hem recommends subscribing issue.
Fri, 05 Apr 2019 10:01:32 +0530


Metropolis Healthcare IPO subscribed 47% on second day The public issue has received bids for 16.82 crore equity shares against offer size of 76.61 crore shares till now.
Thu, 04 Apr 2019 16:45:32 +0530

Schedule A Meeting With Us
Customer :
Need :
Name :
City :
E-mail :
Mobile :
Area :
Message :