NRI Services : NRI Banking and Indian Banks

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NRI Services
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NRI Banking and Indian Banks
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• The Indian Banking sector has loads of services
  for pulling foreign funds from loyal Indians who
  have added to the countries growth and foreign
  currency reserves on a very large scale.
• There is something about India and being Indian
  that keeps all of us attached to the matra bhumi
  where ever we live.
• Even if an Indian enjoyed full rights of
  citizenship in a very developed country he would
  not be able to keep himself away from India and
  his relatives back home.
• Probably this is because of the sanskaar that are
  embedded in the DNA or something.
• There is a bond and longing for relatives and
  family in us Indians that keeps us rejoining
  ourselves to India.
• Apart from this which keeps the business society
  attached to the nation, there are several
  salaried class people who also form a very huge
  contributing sector for the nation.
• Probably due to these factors the NRI banking
  sector has been ever thriving especially since
  the Indian government has started to count in
  this large community and provide it with benefits
  and facilities that pull in the resources of all
  these people.

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• Indian banks have improved to quite an extent in
  providing very good services for the NRI sector
  but there are a few problems that I have faced
  personally and think they should improve on that
  front.
• Banks in India might be having fantastic services
  but when it comes to NRI services they lack
  behind their foreign counterparts.
• HSBC and State Bank, for example, create so much
  trouble to just reactivate a simple Net Banking
  account that the customer would finally become
  frustrated.
• No service centers in the UAE are equipped to
  help customers even reset their password or TPIN
  to a simple extent. One would have to place a
  long distance call to India just to get that
  done.
• Another problem which I have experienced with
  HSBC is that they would send your new password by
  snail-mail and how painstaking would that be in
  today's speedy world could be understood easily.
• On the other hand Citibank, I have no reason to
  favor it, except for the convenience and ease of
  the services they provide in the UAE itself. The
  best of all is their phone banking and net
  banking services. CitiNRI services have always
  been very costly and have a lot of various kinds
  of fees many people would surely not prefer and I
  think they should work out on it as well.

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• There are several banks out there for providing
  NRI services but one should really do a little
  homework and not get lured by the salesman or
  sales ladies talks, as India has strict rules on
  banking. Always study
• the fee structure, ask for their terms and
  conditions booklet, look for reviews on the
  internet and ask relatives and friends about
  their experience. There is a lot of competition
  in the sector and that makes it more nicer for
  the customer while decision making tougher.
• Source http//ezinearticles.com/?NRI-Banking-and-
  Indian-Banksid4782426

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