NRI Checklist Before Applying for a Home Loan

Are you an NRI looking for a Home Loan to finance your dream bungalow in India? Here’s what you need to do to apply for the same.
There’s nothing like owning a home in your motherland. The joy of coming back to your roots and spending time in the place you once called “home”. To make it easy for NRIs to buy a home in India, banks and NBFCs have created special Home Loan schemes, which have been tailored to fit their needs and requirements. 

Find the checklist here

NRI Alert: Bank warns customers against ‘new ATM card’ fraud

Officials of a leading Indian public sector bank and its subsidiaries, both regularly used by overseas Indian customers, have alerted customers to be vigilant about a new fraud involving ATM cards of existing customers.

The State Bank of India, the number one Indian public sector bank, is planning a merger with several subsidiary banks.

“NRIs and their families have to be alert about this new fraud in the name of SBI group merger,” an SBT officer stationed in the UAE told Emirates 24|7.

FULL STORY HERE

NRIs fret post Brexit fallout

Punjabis in India and the UK are also a worried lot with the Brexit fallout.
There are between 8 and 9 lakh Indians of Punjabi origin settled in the United Kingdom, and they expect the Brexit may result in tightening of immigration norms.
Read full report here

Indiabulls to raise Rs1,000 crore from NRIs for real estate fund

Indiabulls Alternative Investments Ltd plans to raise as much as Rs.1,000 crore for a new fund from non-resident Indian (NRI) investors based in West Asia, Asia-Pacific and Europe.

India Opportunities Fund, a real estate-focused, alternative investment fund (AIF), allows NRI investors, along with persons of Indian origin (PIOs) and other foreign investors, to participate in domestic real estate investments.

Full report here

Rs.15 lakh siphoned from NRI’s bank account

Cyber criminals committing fraudulent bank transactions, using forged user IDs and passwords, has come to light when unidentified internet criminals hacked a Non-Resident Indian (NRI) bank account at Paramakudi and transferred Rs. 15.20 lakh in 20 transactions over 10 days.
Full report here

Last date for conversion of PIO cards extended

External Affairs Minister Sushma Swaraj on Sunday said that the government has decided to extend the last date for applying for conversion of Person of Indian Origin (PIO) cards to Overseas Citizens of India (OCI) cards from June 30 to December 31.
Read the full report here