Page 2 - Nri

SC slams NRI quota admissions as 'fraud', dismisses pleas against HC order

'We must stop this NRI quota business now. This is complete fraud and this is what we are doing to our education system', said the Supreme Court of India

Widening of NRI quota: Supreme Court junks Punjab's plea against HC verdict

The Supreme Court on Tuesday dismissed the Punjab government's appeal against a high court verdict quashing its decision to expand the definition of NRI quota' for admissions in undergraduate medical and dental courses in the state. "This fraud must come to an end now," the apex court said. On September 10, the Punjab and Haryana High Court trashed the AAP-led state government's August 20 move extending the ambit of the NRI quota to include distant relatives "such as uncles, aunts, grandparents, and cousins" of NRIs for admissions under 15 percent quota for this group in admissions in medical colleges. "This is nothing but a money spinning machine, observed a bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra. "We will dismiss all the petitions. This NRI business is nothing but a fraud. We will put an end to all this.... now the so called precedents must give way to primacy of law," said the bench. Terming the high court verdict "absolutely right", th

MIF launches one-stop portal for NRIs; will help resolve tax issues

Owing to tax-related changes in India, Rajasthani NRIs face difficulties related to investment provisions in India, Vijay Garg, founder and general secretary of MIF, said

NRI deposits see nearly $4 billion inflows in April-June FY25: RBI data

In June, inflows into the various NRI schemes stood at $1.23 billion compared to $1.7 billion in May

HC sets aside assessment proceeding against NRI over faceless issue

It should be noted that the notification by the CBDT carved out an exception for international taxation cases, including NRIs, for reassessment

Five entities enter test phase for 5th cohort of RBI's regulatory sandbox

The banking regulator received 22 applications for this cohort of the regulatory sandbox

80% developers expect increase in housing demand from NRIs in 2024: Report

Overall housing demand in country to increase by up to 25%, it says

SBI announces 11 new initiatives to mitigate risks in agri loan portfolio

The country's largest lender SBI on Thursday announced 11 new initiatives -- including enhancement of its digital banking features and opening of 35 new Agricultural Centralised Processing Cells -- to mitigate risks in its agricultural loan portfolio. On the occasion of the 69th Foundation Day, State Bank of India announced these initiatives to widen the bank's accessibility to address the banking needs of its potential customers, the lender said in a statement. SBI has enhanced its digital payment experience, with the introduction of two exciting features like tap-and-pay on the BHIM SBI PAY app and end-to-end digital loans against mutual funds on the YONO app, it added. The bank has also announced an initiative, which is a fully digital end-to-end journey for SBI Surya Ghar Loan, it said, adding that the users can opt for credit to install solar rooftops under the central government's PM Surya Ghar Scheme, offering loans for up to 10 KW capacity. The entire process will be manage

Watch how ICICI Bank's NRI customers can make UPI payments

If you're an ICICI Bank customer, here's good news for you! You can now use your international mobile number to make instant UPI payments in India. Watch the video to know how

ICICI Bank enables UPI payments in India for NRIs via int'l mobile numbers

ICICI Bank on Monday announced that it has enabled instant payment facility UPI for its non-resident Indian (NRI) customers in India through their international mobile numbers. According to the bank, this will significantly enhance convenience of making everyday payments. "With this facility, the NRI customers of the bank can make payments for their utility bills, merchant and e-commerce transactions with their international mobile number registered with their NRE/NRO bank account held with ICICI Bank in India," a statement released here by the bank said. According to the statement, the bank has made this service available through its mobile banking app iMobile Pay. Earlier, NRIs had to register an Indian mobile number with their bank accounts to make UPI payments across 10 countries, namely, the USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar and Saudi Arabia. NRI customers of the bank can make UPI payments by scanning any Indian QR code, send money to a UPI ID

Encouraging investment

New rules aim to improve NRI participation

Bringing them home: Parties rally NRIs in large numbers to vote in LS polls

Kerala is once again leading the way in courting NRIs to return home to vote

LS polls: Kerala accounts for nearly 75% of registered NRI voters

Overseas Indians, who registered to vote in the 2024 Lok Sabha elections, have surpassed 118,000

Flows into NRI deposits up 84.4% to $11.8 bn in April 2023-February 2024

Outstanding NRI deposits up $2 billion in February over January

At nearly 66,00, India is second-largest source country for new US citizens

India is the second-largest source country for new US citizens, with over 65,960 Indians naturalized in 2022 (after Mexico), according to a latest Congressional report.

Flows into NRI deposits up 70.35% in April-January, shows RBI data

Non-Resident Ordinary (NRO) deposits reached a level of $26.74 billion in January 2024, up from $26.40 billion in December 2023 and $23.12 billion a year ago

NRIs should check their tax residency certificates for smoother compliance

Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance

Flows into NRI deposits up 72.7% in April-December 2023: RBI Bulletin

Non-resident external (NRE) deposits were at $97.69 billion in December 2023, up from $96.79 billion in November and $94.46 billion at the end of December 2022

Law panel recommends law to deal with NRIs, OCIs marrying Indian citizens

Describing as a "worrisome trend" the "rising" cases of fraudulent marriages between NRIs and Indian citizens, the Law Commission has recommended a comprehensive law to deal with the situation and compulsory registration of such alliances. While presenting the report "Law on Matrimonial Issues Relating to Non-Resident Indians and Overseas Citizens of India" to the law ministry, panel chairman Justice (Retd) Ritu Raj Awasthi said the Commission is of the opinion that the proposed central legislation should be comprehensive enough to cater to all facets involving marriages of NRIs as well as foreign citizens of Indian origin with that of Indian citizens. "The rising occurrence of fraudulent marriages involving Non-Resident Indians (NRIs) marrying Indian partners is a worrisome trend. Several reports highlight an increasing pattern where these marriages turn out to be deceptive, putting Indian spouses, especially women, in precarious situations," Justice Awasthi said in his covering ...

Time to hail India-UAE partnership: PM Modi at diaspora event in Abu Dhabi

Prime Minister Narendra Modi on Tuesday told the Indian community here that India is proud of them and it was the time to hail the friendship between the two countries. After greeting the thousands-strong audience at the 'Ahlan Modi' event with a 'Namaskar' amid chants of 'Modi, Modi' at the Zayed Sports City Stadium here, Modi said he was overwhelmed by the affection at the community programme. "You have scripted history by coming in such large numbers here here. You may have come from different parts of UAE and from different states of India, but everyone's hearts are connected," Modi said. "This is the time to hail the friendship between India and the UAE. In this historic stadium, every heartbeat echoes the same sentiment- Long live Bharat-UAE friendship," Modi said at the event that began with national anthems of the two countries. "Today's memory will be with me forever because I have come here to meet members of my family," he said. "I have come here with a message of your