2 cells set up to assist investors, NRIs in Andhra Pradesh

Andhra Pradesh has set up Safety and Security Cell and AP NRI Grievance Redressal Cell in police HQ at Mangalagiri. The investment cell caters to law and order requirements of investors and NRIs so as to provide a safe investment atmosphere in the State.

Full report here

Plummeting INR has NRIs pumping cash into realty

With the rupee plumbing new lows against the dollar, one man's loss is another's gain — if they reside abroad and invest in realty in India.

With the INR sinking to a historic low of 72.69 against the US dollar last week, real estate markets in Mumbai and Delhi are seeing a spurt in inquiries and purchases by non-resident Indians (NRIs).

According to global and local real estate observers, NRIs are mostly interested in buying properties in metropolitan cities such as Mumbai, Pune and Delhi.

DNA report

India wants to let NRIs vote by proxy, experts are concerned

The Ministry of External Affairs pegs the number of overseas Indians at over 3 crore. It’s not clear how many of these people would be eligible to vote.

SK Mendiratta, a former legal counsel to the Election Commission of India for over five decades said the proposal was a positive move to “enable legitimate voters to exercise their franchise”.

But permitting a proxy to cast a vote on behalf of an NRI has raised concerns regarding the secrecy of the ballot. “The secrecy of the vote will be lost,” former Chief Election Commissioner TS Krishnamurthy told BloombergQuint in an interview.

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Fly-by-night NRI grooms' passport to be impounded

Tightening the noose around fly-by-night non-resident Indian (NRI) grooms, the regional passport authorities in Chandigarh have cancelled the passport of at least 50 such NRIs who deserted their spouse after marriage.

Read the Deccan Herald report here

Sebi mulls allowing NRIs through FPI route after meeting specific KYC norms

The move could open a new source for foreign inflows into the country, as NRIs are currently not big investors because of regulatory curbs.

NRIs usually take the mutual fund route. However, this does not allow them to make company-specific investments.

Although Indian capital market activity is regulated by Sebi, NRI investments coming into the country are administered by the RBI through Foreign Exchange Management Act (Fema). Some of the existing provisions in the Act place NRIs at a disadvantaged position both compared to domestic investors and foreign portfolio investors.

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Govt plans NRI bonds: How will they help?

The RBI does have a number of instruments it can use to support the currency, including selling dollars in foreign-exchange markets and by raising interest rates.

Another tool at its disposal is to raise capital through NRI bonds, a measure implemented by the RBI during 2013 when rupee fell to 67.85. It has become a go-to in times of currency stress.

Find out what they are and how it will help here