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Are you an NRI? Looking answers NRI related questions? Here are the articles links which has answers to your most common NRI related questions( NRI Investments, NRI Tax, etc). Bookmark this page for future reference.

– How NRIs can claim TDS exemption.. link

– Why PPF is not an attractive investment option for NRIs ? as an NRI you cannot open a new PPF account. Secondly, if you live in a country like the US or UK, you will have to pay tax there on your PPF earnings and withdrawals. Let’s dive deeper. More here

– Can NRIs can hold accounts in any currency ? NRI’s who have non-resident accounts in the country can now hold them in any currency which is fully convertible.. More here

– Taxation rules & tax saving tips for NRIs – The income which is earned outside India by an NRI is not taxed here. While the interest earned on a savings bank account for resident Indians is taxed, an NRI doesn’t have to pay tax on the interest income in a non-resident external (NRE) account or foreign currency non-resident (FCNR) account…more here

– How returning NRIs(Return to India – R2I) should plan their return to home... link here

– Returning to India? Rules about earnings from investments abroad..link here more Returning to India articles here

– All you wanted to know about TDS for NRIs – For every income that you earn in India as an NRI, tax will most certainly get charged and furthermore, it would be deducted at source. more here

– How much can an NRI invest in IDFs? NRI investors will be allowed to invest up to USD 10 billion in Infrastructure Debt Funds (IDFs).. link


You can remit money to India for the following purposes :

  • To credit your own NRE/NRO savings account
  • To credit your NRE and NRO fixed deposits
  • To credit the account of a registered beneficiary (spouse etc)
  • For maintenance and support of your family
  • To make investments
  • To make payments
  • As gifts

How do I send money home to my parents/family in India? Hera are the different ways you can Transfer Money to India


Gold is one such asset as its value is universally recognised. Gold has usually shown a steady appreciation in value and can be easily converted to cash.

ICICI Bank ‘Pure Gold’, imported from Switzerland, comes with a promise of 24-carat, 99.99% purity in a tamper proof packing. ‘Pure Gold’ is assay certified, signifying the highest form of purity as per International standards.

Availability: ICICI Bank ‘Pure Gold’ coins and motifs are available in 5g, 8g, 20g, 50g and 100g. Pure Gold is available in any of our 2500 + branches in India.

Convenience: If you’re an ICICI customer, you can book ICICI Bank Pure Gold Online. This is a unique service offered only by ICICI Bank in India. Gold Online is available across 381 branches in 64 cities in India.

Here is how to Buy Gold Coins from ICICI Bank?

Gold coins Investing Pros

  • Value of Gold coin is comparable to international gold price
  • One of the most recognized and reliable way to invest in gold
  • Investment is very easy. You can buy Gold coins from banks or from a local Jewelry shops
  • Available in smaller denominations, Big investment is not required

for more information visit ICICI Bank


I was charged service tax for a recent SBI Remit transaction. I have never been charged service tax before. I logged a ticket with remit.onlinesbi.com and got the answer. Looks like this is a tax for Foreign Currency conversion which will be paid to Government.

Here is the response for my ticket

Service Tax for conversion of Foreign Currency to Indian Currency or Vice-versa is payable to the Government of India, Ministry of Finance. The service tax rates with effect from 1st Day of April, 2011 are as follows:

1. Service Tax is calculated as below:
a. 0.1% of the gross amount of currency exchanged for an amount of Rs1,00,000, subject to minimum of Rs25/- ; and
b. Rs100 and 0.05% of the gross amount of currency exchanged for an amount of rupees exceeding 1,00,000 and up to 10,00,000; and
c. Rs550 and 0.01% of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000; subject to a maximum amount of Rs5,000
2. Education cess @ 3% on service tax is also applicable for every transaction.

For more details please click here


I live in Kentucky. When I logged into my SBI Express Remit account I got following message “Due to regulations applicable in your state of residence in USA, we regret that, at present, we are unable to continue offering SBI Express Remit – US (our product using direct debit facility through ACH) till further notice. We are engaged in meeting the state’s current regulatory requirements, and it will be our endeavor to restore to you at the earliest the convenience you have been enjoying. Meanwhile, you may use the aid of Rapid Remittance (Web-assistance for tracking wire transfers) when you use wire transfer from your bank to send funds to your beneficiary accounts in India.” and also noticed that Fund Transfer (remittance) options menu has disappeared.

Issue: According to new regulations you can use SBI Express Remit in you live in the following states “Alaska, Arkansas, California, Florida, Georgia, Illinois, Iowa, Kentucky, Louisiana, Maine, Michigan, Montana, New York, Oregon, Rhode Island, South Carolina, Texas, Vermont, Washington (state), West Virginia, and Wyoming.”

My Case: Actually I live in Kentucky, but I had my old Pennsylvania address in my profile. I had to change my profile address to the current Kentucky(KY) address and uploaded address proof document (Utility Bill with KY address). Once SBI verified I am able to Remit money using SBI Express Remit.

Here is the FAQ I copied from remit.onlinesbi.com about this issue

How do I register for SBI Express Remit-US remittance services?
SBI Express Remit – US (direct debit using ACH Mechanism in USA) is currently available only in the following states and territories in USA:

Alaska, Arkansas, California, Florida, Georgia, Illinois, Iowa, Kentucky, Louisiana, Maine, Michigan, Montana, New York, Oregon, Rhode Island, South Carolina, Texas, Vermont, Washington (state), West Virginia, and Wyoming.

If you reside in any of these states then you can use SBI Express Remit – US, otherwise you can take the aid of our SBI Rapid Remittance Product which is a web assistance provided to facilitate and expedite the processing of money transfers to India through standard wire transfers or transfers using Internet banking from the remitter’s bank account in USA.

If you don’t live/reside in above states and want to use e-transfer (ACH), you might want to consider using other Online Transfer methods which is listed here


India is one of the 16th largest foreign creditors to the America’s debt. India holds USD 41 billion  US Treasury Securities. This amount is higher than the money America owes to countries like France and Australia. China is the single-largest holder of the U.S. treasury securities with USD 1.15 trillion,

Here is the list of Major Holders of US Treasury Securities (in billions of dollars as of May 2011)

China, Mainland 1159.8
Japan 912.4
United Kingdom 2/ 346.5
Oil Exporters 3/ 229.8
Brazil 211.4
Taiwan 153.4
Carib Bnkng Ctrs 4/ 148.3
Hong Kong 121.9
Russia 115.2
Switzerland 108.2
Canada 90.7
Luxembourg 68.0
Germany 61.2
Thailand 59.8
Singapore 57.4
India 41.0
Turkey 39.3
Ireland 33.5
Korea, South 32.5
Belgium 31.4
Poland 27.9
Mexico 27.7
Italy 25.4
Netherlands 23.7
France 23.6
Philippines 23.6
Norway 21.1
Sweden 20.9
Colombia 19.9
Israel 19.1
Chile 18.9
Egypt 12.9
Malaysia 12.7
Australia 12.3
All Other 202.5
Grand Total 4514.0

sources – http://www.treasury.gov/

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