PIO TO OCI CLARIFICATION
Can the autority also educate the airport custom officers , as I am in India in Feb & don't want any issues. more
NRI means - Non Resident Indian. How a person having foreign passport can be called a NRI for all practical purposes. It was a facility given to overseas citizens who have or had their roots in India, to keep in touch with their motherland and visit the country as and when they feel like and do investment which offers better opportunities as compared to countries like US and UK where there is no interest rates or no good returns available on any investment. So, OCI invest in India not for charity but for their own interest to make money and you need to follow Indian rules more
I should be classified as NRI. It is modiji who forced us to change our Card from PIO to OCI and now RBI is not allowing OCI card holders to demonatise their cash.
Pls ask assist to get RBI to give clarications that those who "do not hold dual passport (one of which is Indian)",
is considered a NRI.
I repeat that we hold OCI card only because we are told to do so by the Indian Embassy or pls request Modiji and RabI to reply or what they mean to interprete.
All bank accounts of ours are NRE & NRO.
Banks classify us a NRI, so should be same with RBI.
They are telling OCI card holders to go back and not allowed to Demonatise. Pls you read the papers and ask your bank managers to give the facts to you and clarify to us. more
I got a NRI status with PAN card when I started doing business and opened bank accounts with India.
I got a PIO card but then Modiji asked us to change to OCI.
This was wrong.
We are "People of India Origin" (PIO) and not "Overseas Citizens of India" (OCI).
Now RBI people are not educated well enough and they are sending back NRIs who hold OCI card.
Kindly will someone educate the staff at RBI. more