NRI BANKING

EXECUTIVE SUMMARY :-
NRI Banking is becoming popular among the Non-resident customers. As India
isshowing progress more & more NRI investing in the country. Banks should try
togive their top class service to the NRIs as they are looking for convenience,
speed,h i g h y i e l d o n i n v e s t m e n t s w i t h m a n a g e a b l e r i s k , r e a s o n
a b l e c o s t & q u a l i t y services.B a n k s h o u l d l o w e r t h e mi n i mu m
b a l a n c e r e q u i r e m e n t wh i c h i s R s .5 0 ,0 0 0 f o r N R I ,s a s c o mp a r e d
t o r e s i d e n t wh o ha v e t o k e e p R s .1 0 0 0 . Th e d o c u me n t a t i o n procedure
in case of opening of a/c in banks, investing in any property, for buyingshares &
debt. should be reduced and in case of loan at a faster speed.The services of banks
should be fast, accurate & upto the standard as they have tof a c e c o mp e t i t i o n
not only from the local banks but also from the banks
b a s e d overseas.Banks should also extend their services by providing
ATMs abroad, E -bankingwith efficient facility & balance inquiry
message through mobilizes.Investment of NRI would help to bring more inflow of
foreign exchange throughtaxes & investment policy & this would help Indian
government to repay its debtto the World Bank. Indian government should give
their best services &e f f o r t s t o e n c o u r a g e NR I t o i n v e s t i n I n d i a . Th i s
w o u l d h e l p o u r e c o n o my t o flourish & grow in future.