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Get the latest news and announcements concerning Non Resident Indian (NRI), PIO and OIC communities residing in Qatar, GCC and other parts of the world.

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NRI deposits drop 98% as oil prices remain low: Report

Net deposits by Non-Resident Indians (NRIs) dropped sharply by 98 percent in April-August this fiscal due to fluctuation in oil prices, industry body ASSOCHAM said. Net bank deposits — the difference between total deposits and not withdrawals — came in at USD 434 million in April-August this year, compared to a net deposit of USD 3.8 billion in the same period last year. Gulf crisis hits remittances “While there are various factors responsible for the NRI flows, including the interest rates, but the most plausible at this point of time seems to be economic problems in the Gulf countries, the largest source of NRI remittances, particularly for the low income expatriates,” the statement said. “Remittances have been affected for states like Kerala, Uttar Pradesh and Bihar, in particularly which have a large number of its people making living in the Gulf nations.” “With fading away of the glorious years for…

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Here are the 14 richest Indian billionaires in the UAE

The UAE, a sought after destination for the world’s high net worth individuals, is now ranked as the most favourite migration hub for the super rich non-resident Indians. A leading authority on India’s private wealth, Hurun Report, said two other countries preferred as a migration destination by India’s 40 super rich non-residents are the UK and the USA. There are 40 immigrants in Hurun India Rich list 2017 and 64 per cent of them are self made. With 14 individuals, UAE is the most preferred destination for immigration, followed by 10 in UK and 8 in the US. Richest Indians in UAE (Figures in Billion Dirhams) Among the 40, with Rs882 billion, L.N. Mittal of ArcelorMittal is the wealthiest Indian immigrant in the UK. Micky Jagtiani of the Landmark Group, and M.A. Yusuf Ali of the Emke Group are ranked respectively second and third wealthiest Indian immigrants globally. Both, residents…

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No second chance for NRIs to deposit demonetised currency: Sushma Swaraj

External Affairs Minister Sushma Swaraj has ruled out any new window of opportunity for NRIs or people of Indian-origin to deposit their high value Indian currency which was declared illegal after the demonetisation policy, a statement said today. Swaraj made these remarks during her interaction with a delegation of Global Organisation for People of Indian Origin (GOPIO) during her trip to New York last week, a media statement said. “Swaraj informed that the government had provided the time window for Non-Resident Indians (NRIs) who are Indian citizens to deposit their currencies earlier. However, that window was not open for Diaspora Indians with foreign citizenship and the government would not be able to provide another such chance,” the GOPIO statement said. Prime Minister Narendra Modi announced his demonetisation policy on November 8 last year, banning old currency notes of Rs 500 and Rs 1000 denomination. According to GOPIO, overseas citizens of…

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Thousands celebrate at India Day Parade in New York

Thousands of people from the Indian diaspora converged in the heart of New York, in their traditional finery, to celebrate India’s 71st Independence Day at one of the largest parades outside India attended by ‘Baahubali’ actors Rana Daggubati and Tamannaah Bhatia. The 37th India Day Parade organised by the Federation of Indian Associations – New York, New Jersey, Connecticut – ran through several streets in Madison Avenue in Manhattan on Sunday and featured tableaux by several Indian-American organisations, marching bands, police contingents and cultural performances by young Indian-American children. Greeting the crowd, New York city Mayor Bill de Blasio said the Independence Day parade celebrates the “extraordinary contributions” of the Indian-American community to the city. “This is a day we appreciate what people do for the city regardless of what they look like, regardless of what language they speak, regardless of where they were born. Everyone here contributes to making…

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12-year-old Indian-origin boy crowned ‘Child Genius’ in UK

A 12-year-old Indian-origin boy has been crowned the UK’s ‘Child Genius’ in a popular television quiz competition, days after he became an overnight sensation after answering all questions correctly. Rahul Doshi won the Channel 4 show ‘Child Genius’ by beating his nine-year-old opponent – Ronan – 10-4 in the programme’s finale last night. He had become an overnight sensation earlier this week after he answered all questions correctly. The schoolboy from north London clinched the title by answering a question on 19th Century artists William Holman Hunt and John Everett Millais. “It didn’t sink in straight away, but it was really nice,” Rahul said after winning the title. In the final, Rahul impressed with knowledge of his chosen subject – Edward Jenner’s medical innovation and methodology in 18th Century England. “I was bursting with pride,” said his father Minesh, an IT manager who had entered his son into the competition.…

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Union Cabinet clears proposal to extend proxy voting facility to NRIs

India’s Union Cabinet on Wednesday cleared a proposal to extend the facility of voting by electronic means and proxy to Non-resident Indians (NRIs) by amending electoral laws. At present, an overseas Indian could cast his or her vote in the constituency he or she belonged to by being physically present at the polling station. As per the new proposal, NRIs would also be allowed to use the option of proxy, which as of now is only available to service personnel like Army officers. For overseas Indians, the Representation of the People Act needs to be amended to include proxy voting as other means to cast their votes. What is proxy voting Proxy voting is a form of voting whereby a voter may delegate his or her voting power to a representative, to enable a vote in absence. A person so designated is called a “proxy” and the person designating him…

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Here is why NRIs need not worry about Aadhaar card

Indian expatriates living across the globe need not worry about any possible problems with their financial or income tax transactions in India for not having an Aadhaar card, recent clarifications issued by the Government says. Despite the exemption previously announced by the Indian authorities, many NRIs expressed their concerns about disruption of transactions in NRE bank accounts in India and filing of income tax returns. Their concerns are justified due to the following reasons: As per recent government orders, PAN card should be linked to Aadhaar card by June 30, 2017 and failure to link them makes PAN redundant. As PAN card was already made mandatory for holding a bank account, NRIs are concerned that this could affect their banking transactions and their accounts may be blocked. A redundant PAN will also affect NRIs who invest in Indian stock market, for which PAN is mandatory. PAN is already mandatory to…

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Indian-origin doctor becomes Ireland’s youngest Prime Minister

Leo Varadkar, a 38-year-old Indian-origin doctor, has scripted history by becoming Ireland’s youngest prime minister, as he promised to build “a republic of opportunity”. Varadkar, the country’s first Indian-origin premier, officially took over from Enda Kenny as Taoiseach, as the Irish prime ministerial title is known, after a parliamentary vote in Dublin confirmed him as the leader by 57 votes to 50, with 47 abstentions. Indian Prime Minister Narendra Modi congratulated Leo Varadkar on becoming Ireland’s prime minister and said he looked forward to working with him to enhance relations between the two countries. Congratulations to H. E. Mr. Leo Varadkar on assuming office as Taoiseach of Ireland. @campaignforleo— Narendra Modi (@narendramodi) June 15, 2017 I look forward to working with Taoiseach Varadkar to further strengthen India-Ireland relations. @campaignforleo— Narendra Modi (@narendramodi) June 15, 2017 The former general physician, who is the son of an Irish nurse and a doctor…

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Sushma Swaraj asks Embassy to rescue woman harassed in Saudi Arabia

India’s External Affairs Minister Sushma Swaraj on Monday asked the Indian embassy in Saudi Arabia to rescue and repatriate a woman from Hyderabad who has been allegedly facing mental and physical harassment by her sponsor there. Ms Swaraj’s direction to the Indian embassy officials in Riyadh came after a media report said the woman was deceived by her agents and was now physically harassed by her sponsor. In a series of tweets, she said, “I have asked Indian embassy in Saudi Arabia to rescue and repatriate her to India at the earliest. I have asked @ProtectorGenGOI to proceed against the agent who sent her to Saudi Arabia.” I saw this news item and asked for a report from @IndianEmbRiyadh which has been received. /1I https://t.co/Y0Fruh8YXM — Sushma Swaraj (@SushmaSwaraj) April 24, 2017 I have asked Indian Embassy in Saudi Arabia to rescue and repatriate her to India at the earliest.…

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Indian-origin CEO ordered to pay $135,000 for mistreating domestic worker

The United States Labour Department has directed an Indian-American head of an IT staffing company to pay her domestic worker $135,000 (around Rs 87,16,000) after an investigation found that she had mistreated her and repeatedly violated federal laws on minimum wage, PTI reported on Tuesday. Himanshu Bhatia, the chief executive officer of Rose International and IT Staffing, has been asked to pay her former live-in domestic help Sheela Ningwal back wages and damages as per a California US District Court judgement. The verdict was based on a complaint filed by the US Labour Department in August 2016. The complaint alleged that Bhatia paid Sheela Ningwal a fixed monthly salary of USD 400 plus food and housing at Bhatia’s home in San Juan Capistrano and other residences in Miami, Las Vegas and Long Beach. Investigators found that the employee suffered “callous abuse” and retaliation, including being forced to sleep on a…

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