Welcome to the vibrant NRI Banking & Investment community.

NRI-Finance-Buddy is an initiative to provide you with best guidance on NRI Banking & Investments. Let us first share the thoughts behind this initiative.

There are more than 30 millions of Global Indians living & working across the world. US, UK, CANADA, AUSTRALIA, UAE, KSA and other GCC countries being the prominent places that holds a majority of the Global Indians.

Most of these Global Indians still hold a very strong cultural bondage, family & friends’ connections and none the less, a deep banking & financial relationship with their land of origin, making it the biggest immigrant diaspora of the world and a major contributor of India’s forex reserves. Just to give a perspective, India retained its NO. 1 position as the largest recipient of remittances with the Global Indian diaspora sending back in excess of USD 100 billion in the year of 2022 only.

NRI Banking & Investments had historically been considered a very very niche segment in Indian Banking and Investment Industry, that demands for specialized knowledge of regulatory aspects, up to date information of ever evolving Indian as well as global economic and political scenarios and extreme care in handling and managing the Banking & Investments relationships. No surprise that almost all of the major Indian Banks and Financial institutions have specialized operating desk catering to the Global Indians.

In spite of the relentless efforts from the regulators, the market participants like banks, mutual fund houses, equity brokers, there still lies a huge gap between the expectation and the experience when it comes to the actual service delivery. Be it a cross border banking transaction, an investment or adhering to a regulatory requirement like KYC-AML. The Global Indians often find themselves struggling with several real time issues like opening a bank account or a trading account while in the country of residence, getting the Digital channels like internet or mobile banking working, deliverables like cards or cheque books, KYC & RE-KYC, FATCA-CRS declaration updating, Mutual Fund or share broker KYC, transaction processing or a tax concern, and this list can never be exhaustive enough.

While struggling with any service issue with their banks/financial institutes or financial advisors, their first resort of further information or guidance is mostly the online search, looking for a solution to the existing problems they are facing.

However, while looking for a help to solve a problem, most of the time they end up visiting some of the websites which are trying to sell some products.

We feel an affinity towards the situation being Global Indian ourselves. We being NRI bankers are well aware of the real time struggles of the fellow NRIs because we dealing with their issues day in and day out.

This has inspired us to come forward with whatever little knowledge & expertise we have gathered during our NRI Banking career of over two decades. We have been providing best guidance on NRI Banking & Investments to our clientele last 20 years.

 

“A helping hand is better than praying lips”.

If you are facing any service issue or lack of proper information or simply confused about how to manage your NRI Banking or Investment with any Indian banks, financial institution or financial advisor…

Feel free to ask for advice….

Here is the first piece of advice, NEVER EVER share OTPs/ Passwords or any other sensitive information to anyone even if someone is impersonating as a bank employee.

Cheers….!!!