Ans. Yes, but only for local payments to be made on behalf of the account holder, In cases where the account holder or a bank designated by him has been granted permission by Reserve Bank to make investment in India, the Power of Attorney holder (POA) is permitted to operate the account or facilitate such investment. POA holders cannot, however, make gifts from NRE accounts.

A Power of Attorney is given only for operating the account & not for opening the account. Further, the operations are restricted only for making legitimate local payments and remitting funds overseas to the account holder only.

You as a NRI account holder can authorize an Indian Resident to operate your NRI account with ABN AMRO India. You will have to execute the completed Power of Attorney application form on a stamp paper. A power of attorney can operate your rupee savings account – NRE and / or NRO savings account and can make legitimate local payments in India.

Yes, a Power of Attorney can operate your demat account. But, for subscribing to SPEED-e service the signatures of the original account holders are must. You may not find the need for a POA to operate your account as you can now operate your account from anywhere in the world. Ans. Smart card access inherently is a superior access service to SPEED-e as compared to password access. The following are the additional benefits of having a smart card gt; Higher security.

Banks have been advised to redesignate such accounts as resident accounts on return of the account holder to India. No. Banks have been advised to continue to pay interest at the contracted rate till the maturity of the deposit if the deposit is held for the full term even after conversion into resident rupee account.

The HLD-3 power battery holder can hold two Li-ion rechargeable batteries (BLM-1). This enables you to use the camera twice as long as a single use battery. Additionally the holder provides remote cable connector and shutter button, which is convenient to take pictures while holding the camera vertically.

The POA holder is also required to obtain a separate MIN in his/her own name and quote it along with the investors’ MIN while investing on behalf of the investor.

Yes, but only if the person acts with willful misconduct or gross negligence. If the individual keeps your best interests in mind, he or she will not incur any liability.

A power of attorney is a document authorizing another person, either a lawyer or non-lawyer, to act as your agent or "attorney" in fact. This differs from hiring an attorney as in that instance, you are asking that person to advise and represent you in legal matters. When you sign a power of attorney, you are permitting that person to act on your behalf in various situations, such as signing papers for you or taking care of your affairs.

An NRI is free to grant Power of Attorney to a Resident. However, such Power of Attorney is restrictive. The Power of Attorney holder can do local operations and give deposit renewal instructions. Power of Attorney Holder can not instruct to transfer funds abroad.

Debits for local disbursements are allowed freely. Credits to the accounts of funds emenating from a local source would be permissible only if the funds are of a repatriable nature and can be remitted by the account holder abroad.

Yes. Transfer of funds from NRE Accounts maintained by two different persons may be allowed for bonafide personal purposes such as personal expenses, education of children, and gifts.

Non-Resident (External) Rupee (NRE) account is a rupee account from which funds are freely repatriable. It can be opened with either funds remitted from abroad or local funds maintained in NRE/ FCNR accounts, which can be remitted abroad. The deposits can be used for all legitimate purposes. The balance in the account is freely repatriable. Interest credited to the NRE accounts is exempt from tax in the hands of the NRI.

Balances held in NRE accounts can be repatriated abroad freely, while funds in NRO accounts cannot be remitted abroad but have to be used only for local payments in rupees. Funds due to the non-resident accountholder which do not qualify, under the Exchange Control regulations, for remittance outside India are required to be credited to NRO accounts.

NRE account is a Rupee denominated account which is fully repatriable. Funds into this account will have to be received from outside India. You can open either a SB account (liquid account provided with a check book) or a Fixed deposit. The minimum period for an NRE fixed deposit is 12 months. FCNR accounts can be opened in five different currencies viz., US dollar, Pound Sterling, Euro, Jap Yen, Canadian Dollar & Australian Dollar.

Funds remitted from abroad and which are of repatriable nature can be credited to NRE accounts. Local funds which do not qualify, under the exchange control regulations, for remittance outside India can be credited to NRO accounts.

Debits for local payments/investments are allowed freely. Credits to an account, of funds emanating from a local source would be permissible only if the funds are of a repatrible nature i.e. eligible to be remitted abroad.