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QUESTIONNAIRE ON N R I BANKING 1. What are the different types of accounts that an NRI can open in India ? 2.

Can an NRI maintain multiple accounts with different banks in India, simultaneously ? 3. Can an NRI open joint accounts with one or more NRIs ? 4. Can an NRI open joint accounts with residents ? 5. Should all the NRI desirous of opening joint accounts be residing in the same country ? 6. Can NRI accounts be opened from abroad also ? 7. Can an NRI open an account with Zero balance ? 8. Can an NRI give Power of Attorney to a resident to operate his accounts and for making investments on his behalf ? 9. What are the restrictions imposed on the Power of Attorney ? 10. How much foreign currency (FC) can an NRI bring along with him on his/ her visit to India, without custom declaration form(CDF) ? 11. Can a relative/P.A. holder or other resident deposit such FC on behalf of the NRI ? 12. Can an NRI deposit local funds into NRE account ? 13. Is interest earned on NRE/NRNR/FCNR/NRO a/cs. taxable ? 14. What is the rate of TDS on NRO accounts ? 15. Is interest on NRO account repatriable ? 16. Can proceeds of FCNR be withdrawn in Foreign Currency/FCTC ? 17. Are there any charges while remitting the FCNR proceeds abroad ? 18. If the NRE/FCNR/NRNR deposits are withdrawn before the maturity date, what will be the loss ? 19. Can the NRI deposits be prematurely extended to get benefit of higher interest ? 20. What is the interest rate on loans against FCNR to the depositors himself and to third parties ? 21. Can loans against NRE/FCNR be repaid from local sources ? 22. Does your Bank issue FCNR(B) Receipts instantly on presentation of Foreign Currency/TCs/draft and cheques ? 23. Can FCNR(B) receipt be issued against Rupee Draft purchased from Exchange Houses with whom UBI has Rupee Drawing Arrangements ? 24. Will the Bank renew our NRE /FCNR(B) deposits automatically ? 25. Is nomination permitted in NRI a/cs? 26. What are the formalities in death claim settlement? 27. What are LEG formalities ? 28. Can NRI invest in immovable properties on repatriation basis ? 29. Can NRI invest in immovable Proprietary/Partnership concern ? 30. Can NRI invest in shares/debentures of Indian Cos., and other securities on a non-repatriation ? 31. Can NRIs invest in Govt. Securities etc. on repatriation basis ? 32. What are the rules pertaining to investments by NRIs in shares and debentures of Indian Cos., on repatriation ? 33. Can NRI place deposits with companies on repatriation basis ? 33. Can NRI place deposits with companies on repatriation basis ? RETURNING INDIANS : 34. What happens to accounts of the NRI on his/her return to India ? 35. Is a NRI subject to tax after returning to India ? 36. Can a returning Indian maintain Foreign Currency account ? 37. Who can open RFC account ? 38. What are the benefits of RFC accounts ?