I had a FCNR Deposit of New Zealand Dollars which matured on 7th Dec. I had given them a ltr to remit it out (they got my ltr 4-5 days the 7th). I called many times to the branch but no one picks up. When once they picked up, they said give them 1-2 days as there is a Technical Problem!
On 17th they sent it out by "Cheque". Still no details and till today Chq not recvd.
I emailed to various depts and even to RBI, asking where is my money???
I asked for TT and send a Chq- the chq will take another 15 days to clear as it is a NZDlr fund, so it will travel to New Zeland, then the signature gets verified, then credit to my Singapore account.
Now tell me how to be confident of Indian system.
Trying to do international business, but still local style. I am now using only foreign banks in India as have had too much poort experience with PSU banks more  

Nowadays, bitcoin is the trend. Bitcoins are the easiest way to transfer money to any overseas account. They are fast and secure, as they use blockchain technology and charge low commission for transfer. more  
I am not surprised. As you are in Singapore ( I assume), you will have this problem. The head In Delhi nr. Jantar Mantar Br., is better at looking after NRIs. Do send me your eMail & I will send you the correct contact.rsck19@gmail is my contact, by the way my American origin Bank is not as good as it was in 1989. more  
Post a Comment

Related Posts

    • Seeking help with the Indian Visa

      Dear External Affairs Minister Mrs. Swaraj We appeal to your good nature. I am an Indian-born US Citizen and almost all of my extended family is in India. I am married to a Ka...

      By Anurag Kabra
    • Dear Members, I am a NRI, until now did not opened any NRI bank account, all of my earning send to India to my father account for saving. Kindly advise how it will consider legally, the savings are...

      By Mohamed Jafar Ali Ismail Mian
    • Cousin with Cash

      My cousin in chicago is visiting india this week and he has 24500 in old cash, landing in chennai. Where should she be going to exchange the money?

      By Mukta Somani
    • Ambassadors in India and abroad

      I have a suggestion. Can local circles or ministry of external affairs please invite all ambasaddors of foreign countries or their offices and india's ambassadors in foreign countries to this circl...

      By Laxmi Jindal
    • OCI & old currency notes

      Just found out today that I am unable to change my old Rupee currency as a OCI card holder. Only NRI are allowed to do this and i thought I was same as a NRI. In future will have to think seri...

      By Mohinder Singh

      wrote the below appeal to RBI : From: <> Date: Sat, Jan 28, 2017 at 7:20 PM Subject: NRI CLARIFICATION Pleas...

      By Mayur Vora

      We are coming to Mumbai on 1st Feb to go to RBI to deposit Old Notes. SEEK CLARIFICATIONS My parents were from India. I was born in India but brought to Singapore when I was 3 month...

      By Mayur Vora

      I am a Singapore citizen. I am holding an OCI (converted from PIO by law). According to my bank I am a NRI. So I need confirmation that I can deposit my old notes to RBI, as under NRI rules. C...

      By Mayur Vora
    • Rs25,000 only

      Rs25,000 allowed by NRI to bring into India is just too little. It should be at least 1lakh. This is the amount usually in hand. Why, becuase 1lakh in India for NrIs fly off our wallet like a bulle...

      By Mayur Vora
    • NRIs and demonetisation - bikram vohra

      I think this is articulated much better by Bikram Vohra ji then I could have. Of all the absurd rules and regulations that have come out of this demonetisation exercise, the one on Mond...

      By Asha Rathi
    • NRIS in fix

      There are some new rules now where NRIs before they can deposit their money need clearance from custome officials at airport. This is ridculous. If someone has 60000 of gifts money in a ...

      By Asha Rathi
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)