JAIIB · PPB · Chapter 9

Operational Aspects of NRI Business

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Q

Basic test?

A

Present in India for ≥ 182 days in the FY

Q

Additional test?

A

Present in India for ≥ 60 days in the FY AND ≥ 365 days in the 4 preceding FYs

Q

Validity — PIO (legacy) / OCI (current)?

A

PIO (legacy): 15 years; OCI (current): Lifelong

Q

Visa — PIO (legacy) / OCI (current)?

A

PIO (legacy): Multiple-entry, but with restrictions; OCI (current): Multi-purpose, multiple-entry, no fresh visa needed

Q

Stay reporting — PIO (legacy) / OCI (current)?

A

PIO (legacy): Required if stay > 180 days; OCI (current): No reporting required

Q

Naturalisation — PIO (legacy) / OCI (current)?

A

PIO (legacy): After 7 years stay; OCI (current): After 5 years stay (+ at least 1 year residence in India)

Q

Status (post-09 Jan 2015) — PIO (legacy) / OCI (current)?

A

PIO (legacy): Merged with OCI; OCI (current): Active card

Q

Citizens of Bangladesh & Pakistan?

A

Require prior RBI approval to open any NRE / NRO / FCNR(B) / SNRR account

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9a Ppb Operational Aspects of Nri Business 195 KB
Previous chapter Foreign Exchange Remittance Facilities for Individuals Next chapter Cash Management Services and its Importance

More chapters in Module A - General Banking Operations

1. Banker - Customer Relationship 2. AML / KYC Guidelines 3. Operational Aspects of KYC 4. Opening Accounts of Various Types of Customers 5. Operational Aspects of Deposit Accounts 6. Operational Aspects of Handling Clearing / Collection / Cash 7. Banker's Special Relationship 8. Foreign Exchange Remittance Facilities for Individuals 11. Cash Management Services and its Importance 15. Ancillary Services
Read more

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