NRI Real Estate and Property Investment in India
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YES Bank, Federal Bank introduce new schemes for NRIs
Tuesday, August 14, 2007

YES Bank has announced its new International Banking Scheme, offering a bouquet of technology driven products and services. These include debt, trade finance, corporate finance, investment banking and business advisory services, treasury and global Indian banking.

The services offered by the bank will initially come through an arrangement with international banks and financial institutions, and would graduate to setting up branches and representative offices in the long-term. The services are targeted at the NRI segment and Indian individuals and corporates who have international transactions.

YES Bank, established just three years ago has established its credentials in banking circles, winning appreciation from Euromoney, Financial Express and Business World. It joined the USIBC as a Chairmanís Circle Member to promote trade and investment between India and the US; and is the Founding Member of the World Economic Forum (WEF) Global Growth Companies, (GGC) Geneva.

YES Bank is also associated with CII, FICCI, PHDCCI, TERI through knowledge sharing programmes. The bank also plans to eventually raise capital from overseas.

The Kerala based Federal Bank has announced its festival offer for non-resident Indian clients on the occasion of Onam, which falls on 28th August this year. Under the Onam Banking Scheme, the bank will gift Onapuduva to all its customers who use the bankís Fedfast facility to remit money to India.

The Fedfast facility is extended to NRI customers in the Gulf countries. To avail the Onapuduva gift, customers can either make a single remittance of upto Rs.1,00,000 between August 12 and September 11, 2007; or open a new NRE savings account through the FedFast with a deposit of Rs.1,00,000. The Federal Bank has about 4 lakh NRI account holders in the Gulf.

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