We offer a red carpet welcome to all NRI's to bank with us. As a premier nationalised bank in India, with comprehensive banking experience world-wide, and by virtue of our consistent track record of profit making since 1908,we are confident of meeting all your banking requirements.
Our wide network of foreign branches, offices and Correspondent Relations at convenient business locations all round the world, which is the largest among any bank in India, will ensure a smooth and safe banking experience.
We continue to cherish our rich ethnic traditional values and culture, during our personal interface. Yet we are speedily repositioning ourselves in the e-millennium era of banking in India, to take care of your changing needs and expectations. Our information technology strategies are directed towards enabling us to provide you with a state of the art customer convenience, thereby facilitating a global banking experience.
We understand you, the NRI's, your needs and immensely value your patronage and would like to extend to you our bouquet of products and services. We assure you the best possible banking experience and will ensure that your wealth continues to grow with us.
Eligibility - FOR NON-RESIDENT INDIANS ONLY
- Different meaning under different statutes
- FERA, 1973 and I.T. Act 1961 had different definitions
- Includes NRI and other non-resident foreign nationals
- NRI includes non-resident Indian nationals and also non-resident Persons of Indian origin
- Under FERA, emphasis in determining residential status was based on purpose of stay outside India and not on duration of stay outside India.
Definition of person resident in India as per new legislation, FEMA
- Earlier definition independent of period of stay
Current definition dependent on both 'purpose of stay' and on 'period of stay' as defined in Chapter 1,Clause 2 of FEMA
Definition of NRI: Regulation 2(vi) of FEMA 5
- Person resident outside India, who is a citizen of India or is a person of Indian origin
- Indian citizens working abroad on assignment with Foreign Governments, Govt. agencies or in UNO and its affiliates IMF,IBRD etc. and Govt. officials (both central and state) and other officials of PSU's deputed abroad on assignments or posted abroad including Diplomatic Missions.
- Indian Students studying abroad are also treated as NRIs provided their stay abroad is for more than 182 days in the preceding financial year and their intention to stay outside India for an uncertain period when they go abroad for studies.
- Non-resident foreign citizens of Indian origin are treated on par with NRI citizens for the purpose of certain facilities
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