Saturday, December 2, 2017

Do NRIs need to link Insurance Policies With Aadhaar Number

If you hold an insurance policy in India, get ready to link it with Aadhaar. After bank accounts, PAN card, and mobile phones, it's time for insurance policies to be updated with Aadhaar number. Many NRIs have bought Life and Health Insurance policies in India, mostly when they were residents, so, the big question is do NRIs need to link their insurance policies with Aadhaar card?

Saturday, November 11, 2017

Foreign Bank or Indian Banks? Which offers more interst on NRE Fixed deposts?

Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account, he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate.

Saturday, November 4, 2017

Atal Pension Yojna for Guaranteed Pension for Indians - Important Features

The Government of India has announced a new scheme called Atal Pension Yojana (APY).  The APY is a guaranteed pension scheme and is administered by the Pension Fund Regulatory and Development Authority (PFRDA), which also administer the NPS or National Pension Scheme.  But unlike NPS, where NRIs are also allowed to invest and open an account (see here), Atal Pension Yojna is only for residents of India and that too for Indian citizens only.

Friday, October 27, 2017

Is Laptop, Tablets, and Mobile Phones allowed in Checked-In or Cabin baggage?

Yes, Laptop, Mobile Phones, Smartphones or any other Personal Electronic device, also known as PEDs are allowed in both check-in luggage and in cabin luggage in most of the countries. Though, it's general practice to carry mobile phones, laptops, tablets or any other personal electronic device in cabin luggage due to security reasons. Since these devices have a battery which may spark the fire and if they are in check-in luggage it will not be handled properly and in the worst case, it may result in loss of Aircraft. Hence its advised to always carry electronic devices with the battery in cabin luggage.

Friday, October 20, 2017

10 Customs Rules Every India Returning from Abroad Should Know

India is getting prosperous and foreign trip are not the privilege only rich people had in the past. Nowadays, many middle and upper-middle-class  Indians  are traveling abroad for holidays, vacations, honeymoons, study and just for work to nearby countries e.g. Singapore, Malaysia, Dubai, Thailand etc. Apart from the hassles of Passport and VISA, one more thing which bothers many Indias is the customs rules and the worry about what they can carry back to India without paying customs duty while shopping overseas.

Saturday, October 14, 2017

How much Indian Currency/Cash NRIs can carry to Overseas/India?

In the wake of India's great demonetization drive, NRIs had asked a lot of question to safeguard their Indian currency and one of them was, how much Indian currency an NRI can take to India from Overseas? The main reason for asking this question now is to make use of old Rs 500 and Rs 1000 notes before they became worthless after December 30th, 2016, because the only way to deposit old Indian currency was to deposit them into NRI Account in India.