Saturday, 28 November 2015

NRIs can invest in pension scheme

To widen the ambit of investors in the National Pension Scheme (NPS) and also to provide social security, the Reserve Bank of India (RBI) said that Non-Resident Indians (NRIs) can contribute to the popular NPS.
The subscription amounts can be paid by the NRIs through normal banking channels or from their funds held in NRE/FCNR/NRO accounts.
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NRIs can soon vote through E-Vote

The move to allow e-voting by NRIs got a major push with the Indian government submitting before the Supreme Court that the union cabinet would soon consider a draft bill in this regard before it is tabled in the parliament.
The government is also planning to extend the facility to armed forces personnel and defence personnel and their family serving away from their native place, including abroad.
A bench  headed by Chief Justice H L Dattu  then directed the government to enable e-voting by NRIs within three months after making necessary amendments to Representation of Peoples Act 1951 which deals with elections in the country.
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Kerala sets up NRI commission

In a good move for the millions of Keralisties residing outside India, the government has set up a NRI Commission. The only other state witha similar body is Punjab.
This is a welcome move in a state like Kerala as NRIs form the backbone of the state economy.
A four-member NRI Commission with quasi-judicial powers is to be set up in Kerala to protect the rights, interests, and properties of Non-Resident Indians (NRIs) hailing from Kerala. 
A retired judge of the High Court will head the Commission, which will be headquartered in Thiruvananthapuram. A retired IAS officer and two NRIs will be the other members. The secretary of the commission will be in the rank of the joint secretary. 
The commission will hold sitting once in every three months. Briefing mediapersons after the weekly Cabinet here on Wednesday, Chief Minister Oommen Chandy said the commission would also have powers to protect the deposits of NRIs, liaison with the State and Union governments to protect the interests of NRIs and check illegal recruitments. The commission will be able to make inquiry on the suo moto cases or on the request being made by the government.