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.

Excellent inflow of NRI funds

Consistent improvement in operating profits, treasury operations and other income have significantly contributed to South Indian Bank achieving a net profit of Rs 93.38 crore in the second quarter, a 22 per cent growth over the corresponding period last year. Emphasising that the bank has maintained its asset quality in a challenging environment, VG Mathew, Managing Director and CEO, of the bank said the focus on various retail sectors for asset growth has started yielding results.
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Saudi woman honoured for promoting Yoga

A prominent Saudi Arabian woman who has been working to introduce Yoga in the Gulf countries, has been honoured by the Indian consulate in Saudi Arabia.
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Sanjeev Gupta re-starts mothballed UK steel plant

An Indian-origin tycoon has made British steel history by resuming production at his 40-year-old mothballed plant here even as the UK steel industry is facing severe hardships due to a global slump.

Sanjeev Gupta, managing director of international steel and metals group Liberty House, hailed the resumption of production at the Liberty Steel Newport rolling mill on the banks of the river Usk in Newport as the start of a new era.

UK-based Gupta founded Liberty as a metals trading company from his student flat at Cambridge University in 1992.

The firm acquired the Newport facility in 2013 and retained the 150 staff over the intervening period in order to be ready to restart when market conditions allowed.

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Square Yards opens office in Qatar

Square Yards, a real estate startup focussed on the NRI segment, has opened its office in Doha, Qatar. This is the startup's third office in the Gulf Co-operation Council (GCC region) after Dubai and Abu Dhabi.
The Gurgaon-based company sees massive potential in Qatar which it claims has over 500,000 Indians with nearly 30% qualifying in the Middle/ Upper-Middle Income category. Through the new office, Square Yards aims at serving the NRI clientele better who want to invest in India but lack sufficient knowledge.
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