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NRI/IPO

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.

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Tue, 10 Jul 2018 11:05:21 +0530


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Tue, 14 Aug 2018 16:26:05 +0530


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Mon, 13 Aug 2018 20:36:05 +0530


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Subscribe to CreditAccess Grameen Ltd: Geojit Geojit has come out with its report on CreditAccess Grameen Ltd. The research firm has recommended to "Subscribe" the IPO in its research report as on August 07, 2018.
Wed, 08 Aug 2018 12:54:45 +0530


CreditAccess Grameen#39;s Rs 1,131-crore IPO opens: Should you subscribe? Majority of brokerage houses do not expect huge listing gains from the microfinance lender as they feel it is highly valued at current price band.
Wed, 08 Aug 2018 08:18:47 +0530


Subscribe to CreditAccess Grameen Ltd: Prabhudas Lilladher Prabhudas Lilladher has come out with its report on CreditAccess Grameen Ltd. The research firm has recommended to "Subscribe" the IPO in its research report as on August 06, 2018.
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Subscribe to CreditAccess Grameen Ltd: Choice Broking Choice Broking has come out with its report on CreditAccess Grameen Ltd. The research firm has recommended to "Subscribe" the IPO in its research report as on August 03, 2018.
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Subscribe to CreditAccess Grameen Ltd: Hem Securities Hem Securities has come out with its report on CreditAccess Grameen Ltd. The research firm has recommended to "Subscribe" the IPO in its research report as on August 06, 2018.
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CreditAccess Grameen IPO to open on August 8; 10 key things to know before investing CreditAccess Grameen#39;s public issue comprises a fresh issue of up to Rs 630 crore and an offer for sale of up to 1,18,76,485 equity shares by the promoter, CreditAccess Asia N V.
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Stellar Listing: HDFC AMC shares close above Rs 1,800, spikes 65% on Day 1 Individual who invested in the IPO of country#39;s second-largest mutual fund house earned Rs 715.15 on each share.
Mon, 06 Aug 2018 15:59:07 +0530


Stellar Listing: HDFC AMC shares close at Rs 1,815.15, spikes 65% on BSE Individual who invested in the IPO of country#39;s second-largest mutual fund house earned Rs 715.15 on each share.
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Thu, 16 Aug 2018 15:43:04 +0530


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Policybazaar appoints Ashish Gupta as CEO of health tech venture DocPrime The appointment is an elevation for Ashish Gupta, who has been serving as Chief Technology Officer (CTO) at PolicyBazaar since November 2015.
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Thu, 16 Aug 2018 15:31:04 +0530


Irked over delay in payment to contractors, CVC seeks report from all CPSEs The move comes after the Central Vigilance Commission received complaints regarding inordinate delay in payments.
Thu, 16 Aug 2018 15:30:04 +0530


Ranchi-based techie builds the Indian version of humanoid robot ‘Sophia’ Ranjit Srivastava claims that the robot functions under a “specially designed software and linguistic interpretation system” developed by him.
Thu, 16 Aug 2018 15:29:21 +0530


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Hindalco Industries: Aluminium business steals the quarterly show The movement in LME prices from here on and the acquisition of Aleris would be key to Hindalco#39;s future performance
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Thu, 16 Aug 2018 15:10:44 +0530


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GST unit cracks down on 3 private banks, 1 payment bank for Rs 100-cr tax evasion The entities are suspected of evading GST by under-reporting the value of the funds transferred for customers.
Thu, 16 Aug 2018 15:00:15 +0530


Thailand to ban imports of high tech trash, plastic waste Southeast Asia nations fear they are the new dumping ground for the world#39;s trash after China.
Thu, 16 Aug 2018 15:00:13 +0530


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