Deposit Schemes available to Non-Resident Indians (NRIs) Public Class

About the Class

The Non Resident Indians or NRIs or in some cases Persons of Indian Origin or PIOs are investing heavily in India. However, most NRs or PIOs are still unable to invest in India for the lack of proper guidance. In this session, Bhushan Bhatia would explain from a banking perspective, who an NRI is. He would explain the various deposit schemes like NRE, FCNR(B), NRO and RFC schemes. After discussing these schemes, he would discuss the salient features of the Schemes like:

• Who can open the account
• Currencies in which account can be opened
• Types of deposit accounts i.e. Savings, Fixed Deposit etc.
• Whether repatriation of principal amount or interest or both permitted
• Whether loan is allowed or not
• Tax provisions

Language of instruction:

Keywords: banking, deposit schemes, nris