Relief in Sight for Failed
NRI Marriages
The Minister of Overseas Indian
Affairs, Vyalar Ravi and Minister
of State for Women and Child
Development, Renuka Chowdhury
have agreed to set up a six-member
sub- committee to deal with
the issue of harassed wives
of NRIs and beleaguered maids
working overseas.
Nirmal Singh, Secretary, Ministry
of Overseas Indian Affairs would
head the committee, which would
draw a member each from the
Ministries of Law, Home Affairs
and Women and Child Development.
Read
more...
NRIs in US have Right to Information
The efforts of RTI activists
in the US and India since November
2006 have been rewarded with
the Indian Embassy in Washington
DC being brought under the purview
of the RTI Act, 2005. A Public
Information Officer has accordingly
been appointed to facilitate
the service at the embassy.
Non-resident Indians (NRIs)
in the US can exercise their
right to information by filing
an RTI at the embassy. The query
would be forwarded to the department
in India and a response is assured
within 35 days.
Read
more...
Interest hike means
twin benefits for NRIs
The hike in interest rates
in India gives NRIs an opportunity
to reap twin benefits.
The Reserve Bank of India (RBI)
jacked up interest rates March
30 to control inflation since
this is the number one priority
of the government. The unexpected
increase in interest rates sent
a Tsunami to the Indian stock
market when it opened April
2 as it plummeted by over 600
points in a single day. The
market recovered quickly but
the yo-yo effect has scared
the investors.
Read
more...
NRIS CAN NOW SAVE TAX ON HOMES
BOUGHT ABROAD
The tax rate on long-term capital
gains earned on sale of property
is 20%. In case, the value goes
over Rs 10 lakh, the tax rate
increases to 22.66%. The rule
remains same for both Non Resident
Indians (NRIs) and India residents.
Serving as a savior, Section
54 of the Income Tax Act exempts
those capital gains which are
invested in a residential house
within a year before to two
years after the sale. In case,
an investor wants to build a
house, the time limit is increased
to within three years of the
date of sale.
Read
more...
Swiss NRI
parents upset over new law
India is exploring
ways to resolve an issue arising
from a new Swiss law that insists
on non-resident Indians (NRIs)
presenting their original birth
and marriage certificates issued
in India to register the birth
of their children born in this
country.
Visiting Overseas Indian Affairs
Minister Vayalar Ravi assured
Indian community representatives
during a meeting here that the
government would consult state
chief ministers to find a solution
to the matter.
Read
more...
NRI
Investments in Real Estate Stocks
NRIs are being
bullish on parking funds they
inherit in India into stocks
and are least interested in
taking money out of the country.
For the past few years, NRIs
have been seen selling their
ancestral land or any other
property acquired in India followed
by bringing the money abroad.
Also, they preferred to save
the money in banks. However,
the trend has been changing
now.
Read
more...
PANEL
RECOMMENDS MEASURES TO PROTECT
NRI MARRIAGES
All Indian marriages, irrespective
of religion, are required to
be registered as proof of marriage.
The parliamentary panel recommendations
come in the wake of rising cases
of desertions by NRI husbands.
A marriage registration certificate
validating the marriage would
enable embassies to keep tabs
on erring NRI husbands.
Read
more...
RBI PERMITS OVERSEAS
REMITTANCE UPTO USD 100,000
The Reserve Bank of India has
taken fresh measures to suck
out excess foreign capital,
by allowing resident Indians
to open accounts abroad and
transfer up to USD 100,000 without
seeking its approval under the
Liberalised Remittance Scheme
(LRS).
This measure follows the restriction
imposed by the Central Government
on the External Commercial Borrowings
(ECBs) to check the rupee’s
appreciation. Alongside, the
RBI and the Centre have been
encouraging overseas investments
to flush out excess foreign
capital.
Read
more...
NRIs remitted over
$24 billion back home in 2006
There are two types of NRI
remittances. The 'inward remittance'
or money sent by NRIs to relatives
in India. The 'private transfer'
which is NRI deposits of foreign
exchange in rupee accounts spent
within India.
The rise in private transfers
has grown to some $13 billion
last year, with the US being
the largest source of remittances,
44 percent of the total. The
Arabian Gulf that once dominated
remittances is now the source
for 24 percent.
Read
more...
Emigration from India
started over 2,500 years ago
!
The emigration of people from
India has been recorded as starting
over 2,500 years ago when adventurers
travelled by sailboat to the
shores of Africa, South East
Asia and the Far East. The voyagers
negotiated the ocean waters
to venture to Java, Sumatra,
Cambodia, Vietnam, Bali and
the Philippines tackling the
monsoon winds and taking with
them to their new lands, a rich
contribution of culture, calligraphy,
methods of cultivation, handicrafts
and new industries, all in the
calmness and peace of the time.
Read
more...
Indian Banks Expanding
Abroad to Capture NRI Remittances
Marketd
Sources in the US government
have told that ICICI Bank and
State Bank of India (SBI) could
get clearance to open a US branch
within a month's time. The approval
process is reportedly in its
final stages and is awaiting
clearance from the US Federal
Reserve.
Read
more...
Marriage certificate
should be issued immedietly:
HC
The struggle of a woman to
get a marriage certificate from
the authorities came to an end
with the Delhi High Court directing
the city government to issue
the document to her at the earliest.
Charanjeet Kaur Nagi, who was
allegedly denied the marriage
certificate by the issuing authority
as her husband Jaspal Singh
is settled abroad and could
not appear before the competent
officer, approached the Court
in early July this year.
Read
more...
|
