Hdfc Bank Ties Up With Deloitte For Nri Tax Aid

Following the alliance between the new generation private bank and Deloitte Haskins, HDFC Bank will introduce 'write-in tax advisory services' and 'portfolio investment scheme' for NRIs.

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"HDFC Bank considers NRIs an important segment of the business group and these two services are to help our operations in India," said Aditya Puri, managing director of HDFC Bank.

The write-in tax advisory services will enable NRI customers to get advices from the audit firm on their queries on tax matters at a special price. Deloitte Haskins & Sales will look into the legal aspects and caution the customers on their tax obligations.

 

Under the portfolio investment, NRI investors can get a certification from Deloitte Haskins that will enable them to invest in the Indian stock market. "Other banks put the burden of getting the certification done on the customer itself," claimed Puri.

Deloitte Haskins & Sales is a member firm of Deloitte and Touchhe, one of the five largest global accounting firms.

As part of its NRI services, HDFC Bank also announced the launch of its international debit card. The card -- the first of its kind issued by any Indian bank -- can be used by non-resident external (NRE) account holders. The debit card will enable customers to withdraw cash from their NRE accounts or use it for shopping in the local currency of their place of residence.

Puri said "a big proportion" of the bank's total business will come from these two services.