India
The Securities and Exchange Board of India (SEBI)
Non Resident Indians – NRIs
This section showcases Non Resident Indians – NRIs and their Financial Services Professionals. NRI does not mean that there are non-resident to the United States, it simply means that they are non-resident to India. This would include the Asian Indians in America. We provide infomation on regulations in India as many NRI still have interest in their motherland products, services and professional licensing processes. This info is also help to those of us with Asian indian clients.
Who is a Non-Resident Indian (NRI)?
A non-resident Indian –NRI is an Indian citizen who has migrated to American and other country. The Indian Government has allowed dual citizenship to all overseas Indians who have been living outside the country since January 26, 1950. At the inauguration of the 3rd Pravasi Bharatiya Divas in Mumbai on January 7, 2005, India's Prime Minister Dr. Manmohan Singh announced this this right is extended to all overseas Indians who migrated from India after 26th January 1950, as long as their home countries allow dual citizenship under their local laws. An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. Persons Posted in U.N. organizations and official deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents. Non-resident foreign citizens of Indian Origin are treated on par with non- resident Indian citizen (NRIs).
A Few Facts - NRIs In America
Saudi Arab consists of the World’s largest Non-Resident Indian –NRI population at 1.6 million and USA stands at second place with 1.55 Million Indians. Source:
YaHind.com Estimates of Non-Resident Indians spread across the world vary depending on who you talk to from a modest 15 million to over 40 million. It is also estimated that there are between 40 to 100 million ethnic Indians spread across the world.
Asian Indians from the business classes (Gujarati and Punjabi community) are very successful business entrepreneurs in America.
They owned and operate very profitable hotels and motels in the United States . The Gujaratis dominant the Asian American Hotel Owners Association, whose members have a $ 40 billion stake in the hospitality industry, owning more than 17,000 hotels.
Asian Indians in America are very involved in the diamond and jewelry trades. They are a multi billion-dollar force in the diamond industry as voiced by The Indian Diamond and Color Stone Association .
Asian Indian doctors total more than 35,000 physicians , also there are over 10,000 Asian Indian medical students in the United States and they are growing.
Non-Resident Indian (NRI) Savings and Investments
Most NRIs living in the United States have the option of utilizing saving and investments here and also in India as well. From the U.S, they can save or invest in India's:
The Securities and Exchange Board of India (SEBI) Protects NRIs
The Securities and Exchange Board of India (SEBI) has been mandated to protect the interests of investors in securities and to promote the development of and to regulate the securities market so as to establish a dynamic and efficient Securities Market contributing to Indian Economy. SEBI strongly believes that investors are the backbone of the securities market. They not only determine the level of activity in the securities market but also the level of activity in the economy.
When Things Go Wrong
The
Securities and Exchange Board of India gives the following advice at their
website . There will be occasions when you have a grievance against a listed company/ intermediary registered with SEBI. In the event of such grievance you should first approach the concerned company/ intermediary against whom you have a grievance. However, you may not be satisfied with their response. Therefore, you should know whom you should turn to, to get your grievance redressed. SEBI takes up grievances related to issue and transfer of securities and non-payment of dividend with listed companies. In addition, SEBI also takes up grievances against the various intermediaries registered with it and related issues.
Types Of Grievances and Who To Contact:
India Stock Exchanges
Commodities and Futures
Insurance Regulatory and Development Authority (IRDA) of India
The IRDA
The IRDA protects the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry in India. Before insurance sector was opened to the private sector Life Insurance Corporation (LIC) was the only insurance company in India.
Insurance Institute Of India
The
Insurance Institute of India formerly known as Federation of Insurance Institutes (J.C. Setalvad Memorial) promotes Insurance Education & Training in India. In its role as an leading education and training provider…The Insurance Institute of India is closely associated with all the segments of the insurance industry which includes Insurance Regulatory Authority Of India, public and private sector insurance companies.
The College Of Insurance: Insurance Brokers Training Program and Brokers License Renewal Programme
Get Info HereOnline Exams | Insurance Institute Of India
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Major Life insurance Companies in India are:
Bajaj Allianz
Birla S un Life Insurance
HDFC Standard Life Insurance
ICICI Prudential
ING Vysya
Kotak Mahindra
Max New York Life Insurance
Metlife India Insurance
DLF Pramerica – (Prudential Financial USA)
Reliance Life Insurance
SBI Life Insurance
Shriram Life Insurance
Tata AIG Life Insurance
The Major Health Insurance Companies in India are the:
- National Insurance Company
- New India Assurance
- United India Insurance
- ICICI Lombard
- Tata AIG
- Royal Sundaram
- Star Allied Health Insurance
- Cholamandalam DBS
- Bajaj Allianz Apollo
- AG Health Insurance Company
Insurer and Policies
Click on any insurance company to get a list of its insurance policies:
Other Resources
Consumer Protection