NRI NRI Glossary

NRI Glossary

NRI definition –

A Non Resident Indian (NRI) is a person residing outside India, but is a citizen of India or is a Person of Indian Origin (PIO).

Type of Bank Accounts for NRI's in India –

Tax benefits available to NRI's –

Incomes earned in India and abroad cannot be clubbed for the purpose of tax benefits The Income Tax Act 1961, provides the following benefits for NRI's on insurance policies –

If the claimant is living outside India, then the payments will be made to the NRO account of the claimant.