sir, I have have online bank a/c in u.k., It is legally given by charity of a madam of u.k/. I like to transfer it to india into my a/c through online./ How much shall I tranfer legally into india./ of my off shore savings a/c?
sir, I have have online bank a/c in u.k., It is legally given by charity of a madam of u.k/. I like to transfer it to india into my a/c through online./ How much shall I tranfer legally into india./ of my off shore savings a/c?
Kindly suggest me the ways to transfer money to india from Saudi Arabia, I have an operative ICICI Account in india. And also one account in my spouse name in SBI. Please Guide suitably.
I HAVE RECIEVED AN OFFER FROM A FOREIGHNER WHO IS INTERESTED TO TRANSFER A LARGE FUND INTO MY CURRENT ACCOUNT IN A INDIAN BANK FOR INVESTMENT IN BUSINESS IN INDIA. PLEASE LET ME KNOW IF THERE IS ANY LIMIT FOR TRANSFERING FUNDS INTO CURRENT ( BUSINESS) ACCOUNT ?
I am also a NRI and in the same situation as you. I didnt know how to invest. I spoke to my friend in India who is a branch manager of Standard Chartered Bank. Write to her at manasi.paradkar@in.standardchartered.com She advised me to invest in Mutual funds since that is the safest route compared to directly investing in stocks in India which requires a lot of study. You can also do it using HDFC bank or ICICI bank. Essentially they become our investment agents. They do not charge the fees from us which means they must be charging their fees to the institutions where your money is invested. Depending on the risk you are willing to take and the industry segment that you wish to invest, the investment banker will suggest some mutual funds. Download the forms which they send, study them briefly and then invest. The decision as to where to invest will be yours. They can only suggest. You will also need a bank account in India (NRE or NRO) for transfer of funds or deposit of returns.
I got more than 20% on top of the Rupee appreciation which was 10% making it a 30% return. However remember that you need a PAN card (kind of similar to SSN in India) or atleast a receipt for application for a PAN card. The application is pretty easy.
