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Non-Resident Ordinary (NRO) Account |
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Non-Resident External (NRE) Account |
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Foreign Currency Non Resident (FCNR) Account. |
The NRO / NRE accounts are maintained in rupees and the funds remitted will thus be converted into India rupees at the spot exchange rate.
For FCNR, the deposit can be maintained in the currency of your choice i.e. USD, GBP, EUR, AUD and
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Who is a Non resident Indian NRI?
An NRI is a person resident outside India who is a citizen of India or is a person of Indian origin.
Under the Foreign Exchange Management Act (FEMA), generally, a person is resident outside India if he
is in India for less than 182 days during the course of the preceding financial year and also includes any
person who stays abroad:
- For the purposes of carrying out employment or any business or vocation;
- Under circumstances indicating an intention to stay outside India for an uncertain duration;
- Any Indian citizen deputed outside India for a temporary period in connection with employment
- For education
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Who is a Person of Indian Origin PIO?
You are a Person of Indian origin [PIO] if you are a citizen of a foreign country (other than a citizen of
Bangladesh or Pakistan ) and:
- You have at any time held an Indian passport OR
- You or either of your parents or any of your grandparents were citizens of India by virtue of the
Constitution of India or the Citizenship Act, 1955 OR
- You are the spouse of an Indian citizen or of a person of Indian origin (other than of Pakistan or
Bangladesh )
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Remedies available:
- NRIs can now take up their grievances or complaints against listed companies with the special NRI cell set up by SEBI.
- Complaints includes non-receipt of refund orders, allotment letters, non receipt of dividends, share certificates,
bonus shares, debentures certificates, interest, redemption amount and interest on delayed payment or interest on
debentures.
- NRI investors can also express their grievances against non-receipt of annual reports, right forms and interest on
delayed receipts.
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Real Estate: Primary and Secondary Market |
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Share and Debentures: Primary and Secondary Mkt |
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Mutual Funds |
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Derivative Contracts |
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Commercial Papers |
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Government Dated Securities, T-bills etc |
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