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.
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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.
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Gujarat abolishes NRI quota in medical education

"NRI quota was not benefiting Gujarat students and most benefits were taken by students from other states. So, to help the state's students, we decided to abolish the NRI quota. Now 15% NRI quota will be merged into the management quota. The new management quota will be 25% from the present 10%. It will give more seats for state's students."

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No clarity over NRI admissions

Ahmedabad: With National Eligibility cum Entrance Test (NEET) made compulsory by Supreme Court for admissions in medical and dental colleges, there is confusion over the fate of NRI admissions. In Gujarat, 260 seats in medical colleges are reserved for NRI students.
Deans of medical colleges said that in Gujarat, NRI students were given admission on basis of equivalent certificate of HSC. They were exempted from appearing for the Gujarat Common Entrance Test (GujCET). "With NEET now made compulsory at the last minute, the NRI children will not be able to appear for the test. If it is mandated to give admission to NRIs only on basis of NRI score, many of them may not take admission in Gujarat and choose colleges in Russia, Philippines, China etc," said the dean of a leading medical college.
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NRIs shy away from realty market

Nonresident Indians, a key category of property buyers in India, have of late been keeping away from the market. Of the key real estate markets where NRI investment makes a difference, Kerala is the worst affected with a more than 50% drop in sales to this group, according to global real estate consultant Coldwell Banker.

The decline is being attributed to a general slowdown in the Gulf region that has significantly reduced NRIs' disposable income.

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LIC's Gulf arm tops overseas chart with 80% income

MUMBAI: LIC has had a good run in the Gulf countries with its Bahrain-based arm LIC International that manages the GCC markets becoming the best among its eight international subsidiaries in terms of new business premium collection in 2015.
"We sold 13,120 policies in 2015, which is a growth of over 16 per cent over previous year. In terms of the number of policies, we enjoy over 88 per cent of market share in Bahrain in 2014,"

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Federal Bank partners with Oman UAE Exchange for FLASHremit

Federal Bank has partnered with Oman UAE Exchange for FLASHremit, a real-time account credit facility. The partnership enables the non-resident Indian (NRI) customers residing in Oman to transfer money directly to their beneficiary having account with Federal Bank in India.

If you aren NRI from Oman and wants to know more then click here