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Home  » NRI Services -> Define NRI
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Unaudited Financial Results

Unaudited financial results of the bank for the quarter ended 31st Dec 2011

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LVB has successfully raised Tier II Capital over Rs. 250 Crores

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NRI-Definition
 
 

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who ever can be an NRI:
 
  • NON RESIDENT INDIANS (NRI)
    An Indian citizen or a foreign citizen of Indian origin who stays abroad for employment/carrying on business or vocation or under circumstances indicating an intention for an uncertain duration of stay abroad is NON-RESIDENT INDIAN (NRI)
  • FOREIGN CITIZENS OF INDIAN ORIGIN
    For the purposes of availing of the facilities of opening and maintenance of bank accounts, a foreign citizen ( but not a citizen of Pakistan or Bangladesh ) is deemed to be of Indian Origin, if he, at any time was an Indian citizen or either of his parents or any of his grandparents was a citizen of India.A spouse ( not being a citizen of Pakistan or Bangladesh ) of an NRI is also treated as an NRI for the above purposes. For investments in shares/securities in India, a foreign citizen ( but not a citizen of Pakistan or Bangladesh or Sri Lanka ) is deemed to be of Indian Origin, subject to satisfaction of the other conditions above.For investments in immovable properties, a foreign citizen ( but not a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Nepal or Sri Lanka) is deemed to be of Indian Origin, if he, at any time, wan an Indian citizen or his father or paternal grandfather was an Indian citizen.
  • NRIs RETURNING TO INDIA

 
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