Explained:  Person of Indian Origin (PIO) Vs. Overseas Citizen of India (OCI)

DepositsLeave a comment

PIO (Person of Indian Origin) and OCI (Overseas Citizenship of India) are special immigration statuses offered by the Government of India to people of Indian descent living abroad, providing them with significant rights and benefits without granting full citizenship. What is PIO? PIO refers to a foreign citizen (excluding those from Pakistan, Bangladesh, or certain…

FCNR(B) Deposits: Complete Guide to Opening and Closure

DepositsLeave a comment

A Complete Guide to Opening, Features, and Closure Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits provide Non-Resident Indians (NRIs) with a secure and efficient way to invest their foreign earnings in India while protecting both principal and interest from exchange rate fluctuations. Governed by Reserve Bank of India (RBI) guidelines, FCNR(B) deposits also offer tax-free interest…