Non-repatriable NRI funds may get domestic investment tag

In order to encourage more overseas investments into India, the government has set up a committee to look into the possibility of treating non- repatriable NRI funds as domestic investment.

“The Committee will look into streamlining the process for NRI investments into India in the light of the Mayaram panel report on rationalising the FDI/FII definition,” an official told PTI. Continue reading

NRI woman can fight for divorce via video: HC

Judges need to change their attitude to technology, the Bombay High Court said while allowing a US-based NRI woman to record her evidence in a divorce case before the family court through video-conferencing.

Justice Mridula Bhatkar struck down a family court’s order which rejected Prajakta Shinde’s plea for a video-conference. The family court had said that Prajakta should travel to India as a court atmosphere was necessary to observe her demeanour during the recording of evidence and cross-examination. Continue reading

Punjab to draft policy for solving NRI property cases

Punjab plans to come out with a draft policy to find a permanent solution to the lingering problems of partition of land and other property cases involving NRIs.

NRI affiars minister Tota Singh on Wednesday asked the department to prepare a policy framework in consultation with revenue and urban development departments for expeditious solution to partition cases, especially those involving NRIs. Continue reading

Demand from NRIs for cover in India set to rise: General insurers

Non-resident Indians (NRIs) are increasingly looking to take insurance cover for their property in India, apart from health and medical cover for their family here, general insurance companies offering packaged and individual-specific products for NRIs said. Renuka Kanvinde, assistant vice-president (health insurance) at Bajaj Allianz General Insurance, said there has been an increase in demand for health insurance products from NRIs for their parents and dependents in India. Continue reading

NRI docs to get work permits within a fortnight

Doctors of Indian origin living overseas who want to practice, research or teach in India can now get work permits within a fortnight.

“Overseas doctors willing to contribute to India’s healthcare can now apply online … the application will be processed within 15 days, including permission to practice from the Medical Council of India (MCI),” health minister Dr Harsh Vardhan, who recently came back from a week-long trip to the US, told HT. Continue reading

NRI alert: Do research before buying property in India

Non-resident Indians (NRIs) need to be vigilant and do their research before buying a property in India, says the exhibitor of a property show.

“One looking to buy a property in India must do his research well before investing in a property though the chances of being ripped off are much lower these days,” Sunil Jaiswal, CEO, Sumansa Exhibitions, organiser’s of Indian Property Show, told Emirates 24|7. Continue reading