Gold has been a very popular investment option for Indians and those living abroad (especially in the Gulf) have been taking bullion and jewellery back home with each visit.However, this became difficult after the Indian government put strict controls and import duty on gold.Now, the Indian cabinet has approved a new Gold Bond and Gold Monetisation scheme to reduce the metal's demand in physical form and fish out idle gold lying with households and other entities.The new scheme allows Indians to buy 500 grams per person in India and will be issued in 2, 5 and 10 grams of gold or other denominations. The tenor of the bond could be for a minimum of 5-7 years so that it protects investors from medium-term volatility in gold prices.
Read full story here
Tuesday, 29 September 2015
Sunday, 27 September 2015
NRI donates Rs 1 crore to Kochi-Muziris Biennale
Some good news for art.
A leading NRI businessman today donated Rs one crore to the third edition of the Kochi-Muziris Biennale (KMB) scheduled next year.
The financial support by Gulf-based Indian businessman M A Yusuff Ali for KMB 2016, beginning December 12, 2016, comes a day before Bakrid.
A leading NRI businessman today donated Rs one crore to the third edition of the Kochi-Muziris Biennale (KMB) scheduled next year.
The financial support by Gulf-based Indian businessman M A Yusuff Ali for KMB 2016, beginning December 12, 2016, comes a day before Bakrid.
Read more here
NRI deposits climb to $11b
A report in Financial Chronicle
NRI deposit inflows are nearing $11 billion so far this year, helped by a weak rupee. In the first seven months of last year, NRI deposits worth about $8.5 billion flew in.
In each of the seven months (January-July) in this calendar year, NRI deposits inflows worth $1-2 billion have come in. Liquidity factor and safety element of bank deposits continue to attract NRIs, say bankers.
Full report here
NRI deposit inflows are nearing $11 billion so far this year, helped by a weak rupee. In the first seven months of last year, NRI deposits worth about $8.5 billion flew in.
In each of the seven months (January-July) in this calendar year, NRI deposits inflows worth $1-2 billion have come in. Liquidity factor and safety element of bank deposits continue to attract NRIs, say bankers.
Full report here
NRI seats lie vacant In Punjab Medical Colleges
When there is huge rush for MBBS seats in most states, 264 MBBS and BDS NRI seats have no takers in Punjab, a report in Link claims.
Only seven students took admission in the NRI category against the availability of 271 seats – 102 MBBS and 169 BDS – in 21 medical and dental colleges of Punjab.
Besides, none of these seven students opted for the BDS seat.
Though 17 NRI students qualified PMET-2015 by obtaining 50 per cent marks in the medical entrance test, only seven of them appeared in the counselling for admission conducted by Baba Farid University of Health Sciences (BFUHS) here today.
The NRI seats are seen as a big financial advantage for the medical and dental colleges. Every college has 15 per cent NRI seats and the full course fee for NRI MBBS and BDS seat is $1,10,000 and $44,000, respectively.
Read full report here
Only seven students took admission in the NRI category against the availability of 271 seats – 102 MBBS and 169 BDS – in 21 medical and dental colleges of Punjab.
Besides, none of these seven students opted for the BDS seat.
Though 17 NRI students qualified PMET-2015 by obtaining 50 per cent marks in the medical entrance test, only seven of them appeared in the counselling for admission conducted by Baba Farid University of Health Sciences (BFUHS) here today.
The NRI seats are seen as a big financial advantage for the medical and dental colleges. Every college has 15 per cent NRI seats and the full course fee for NRI MBBS and BDS seat is $1,10,000 and $44,000, respectively.
Read full report here
Wednesday, 23 September 2015
Kerala banks have over Rs.1 lakh crore NRI deposits
Now thats a looot of money... The economic situation in Gulf is not so robust, but looks like it has not affected the Malayalees.
The deposits made by Non Residents (NR) in Kerala banks crossed the Rs.1 lakh crore mark by June 30 this year, according to a report released here on Tuesday.
The State Level Bankers Committee report said the total deposit was Rs.1,17,349 crore -- an almost 25 percent jump from Rs.94,097 crore as on June 30, 2014.
Read the full Business Standard report here
Subscribe to:
Comments (Atom)