n India there are three chambers for commerce
and Industry: FICCI, CII & ASSOCHAM. In addition
there are various other important Industry
associations. You can have lots of information by visiting
their sites.<br><br> FICCI
"<a href=http://www.bisnetindia.com
target=new>http://www.bisnetindia.com</a>"<br> CII "<a
href=http://www.indianindustry.com
target=new>http://www.indianindustry.com</a>"<br> ASSOCHAM
"<a href=http://www.assocham.org
target=new>http://www.assocham.org</a>"<br><br>Also visit "Opportunities"
section on "BankNet"
Homepage: "<a href=http://members.tripod.com/BankNet
target=new>http://members.tripod.com/BankNet</a>

overnment of India on 5th April 99 have allowed
companies to infuse additional funds by way of foreign
equity provided there is no change in the in the
percentage of foreign equity and notify the same to the
secretariat of industrial assistance (SIA) within 30 days of
receipt of funds as also allotment of shares to non
resident shareholders.<br><br>However new norms not
applicable where there was an increase in the percentage of
foreign equity and where the original project cost was
more than Rs 600 crores.<br><br>For more details visit
Newsletter section on BankNet
Homepage:<br>"http//members.tripod.com/BankNet"

overnment of India has launched PIO Card on 30th
March 1999. Persons of Indian origin settled in
countries other than Pakistan and Bangladesh will now be
issued PIO Card, which would exempt them the requirement
of a visa to visit India. The scheme will bring them
at par with NRI's in respect of facilities in the
economic, cultural, financial and educational
fields.<br><br>PIO Card shall be valid for a period of 20 years
subject to the validity of passport of the applicant. It
entails a fee of $1,000, which includes $250
nonrefundable processing fee.<br><br>While estimated NRI
population, World over is 6.7 million, PIOs are estimated to
be about 15million. <br><br>For eligibility,
benefits and other details visit "Newsletter" section on
"BankNet"<br>Homepage
<br><br>"<a href=http://members.tripod.com/BankNet
target=new>http://members.tripod.com/BankNet</a>"<br><br>All Indian missions can
be approached for
applications.

s per BW-MODE Survey,following was the overall
ranking of the cities on the basis of 17 parameters for
IT. Parameters included working conditions, growth
prospects, infrastructure, technology, govt facilities,
living conditions etc.<br><br>1. Bangalore
<br>2.Mumbai<br>3.Hyderabad<br>4.Delhi<br>5.Chennai<br>6.Pune<br><br>However if
considered only from the point of view of
investors the ranking was quite different and was :
Hyderabad, Pune, Chennai, Bangalore, Mumbai &
Delhi.<br><br>Thus though overall Bangalore retains its place as
Indian silicon valley, Hyderabad and Pune are fast
picking up.

2 countries divided in two groups will compete
for title of world champions . World cup will be held
in the United Kingdom, Ireland and Holland in months
of May and June 1999. First match on May 14 and
finals on June 20 at Lord's, London.<br><br>Group A:
India, Sri Lanka, South Africa, England, Zimbabwe,
Kenya<br><br>Group B: Australia, West Indies, Pakistan, New Zealand,
Bangladesh, Scotland<br><br>LET US WISH BEST OF LUCK TO
INDIANS<br><br>More later,

II (Confederation of Indian
Industry)<br><a href=http://www.indianindustry.com
target=new>http://www.indianindustry.com</a><br><br>3) HDFC (Housing development
finance
corporation)<br><a href=http://www.hdfcindia.com
target=new>http://www.hdfcindia.com</a><br><br>4) IDBI (Industrial development
bank of
India)<br><a href=http://www.idbi.com
target=new>http://www.idbi.com</a><br><br>5) Indian Hotels (Taj group of
hotels)<br><a href=http://www.tata.com/tajhotels
target=new>http://www.tata.com/tajhotels</a><br><br>6) NSE (National stock
exchange)<br><a href=http://www.nseindia.com
target=new>http://www.nseindia.com</a><br><br>7) SBI (State bank of India)<br><a
href=http://www.sbi.co.in target=new>http://www.sbi.co.in</a>

or convenience of members, providing the list of
dates in April 1999 on which banks will be closed and
will not have any public dealings. As some bank
holidays are local we are providing list of holidays for
major centers:<br><br>NEW DELHI:
1,2,27,30<br>AHMEDABAD: 1,2,14,27<br>BANGALORE:
1,2,14,27<br>BHUBANESHWAR: 1,2,3,14,27<br>BHOPAL: 1,2,27,30<br>CALCUTTA:
1,2,14,27,<br>CHANDIGARH:
1,2,14,30<br>CHENNAI(Madras):1,2,14,27<br>GUWAHATI: 1,2,14,15,<br>HYDERABAD:
1,2,5,14,26<br>LUCKNOW:
1,2,14,27,30<br>MUMBAI(Bombay): 1,2,14,17,27,30<br>PATNA:
1,2,14,27,30<br><br>This list is as per information collected from banks
from different parts of India.

i!<br> I wish you all a very happy Ugadi---Rami Reddy

et us discuss the benefits to NRIs for investments in India from the recent
Union Budget and also what more is expected by NRIs.

ou are right. It is a very good suggestion.

ou are welcome to add to the Links and Photos section. Use the message board
facility to interact with members on range of subjects including sharing
information on business opportunities.

or teleworking/Remote/long distance processing
India is being discovered as low cost and efficient
place. Globally this market is estimated to be of size
of $250 billion <br><br>Some examples are Call
centers, Data conversion, Medical Transcription, Back
office operations, Content development, Deposition
summary, Insurance Claims Processing, Geographical
information systems, cleaning up of resumes etc.
<br><br>These activities are projected by Nasscom to have
turnover of nearly Rs 55,000crores by 2007-08 as against
less than Rs 550 crores in 1997-98. <br><br>Use this
Club for discussing and sharing information on
business opportunities. For assistance or more information
can contact <br><br>akbanker@...

. Extend the facility of automatic approval for
investment up to 100% by NRIs/OCBs for all items, except
those, which attract notified FDI equity caps or
compulsory licensing or public sector reservation under the
Industrial policy or are reserved for the small
sector.<br><br>2.To open trading terminals abroad to facilitate the
participation of NRIs in our capital markets.<br><br>3.Existing
RBI approval for NRI investment in Indian mutual
funds to be simplified to a post-facto reporting
mechanism.<br><br>4.To expand the list of automatic approvals covering
important industrial & service sectors. Further, FIPB will
give decisions within 30 days.<br><br>5.To ensure
quick implementation of foreign direct investment (FDI)
approvals, to create a Foreign investment implementation
authority (FIIA) within the ministry of
Industry.<br><br>(FOR MORE BUDGET INFORMATION VISIT NEWSLETTER SECTION
ON BankNet HOMEPAGE
AT<br>"<a href=http://members.tripod.com/BankNet
target=new>http://members.tripod.com/BankNet</a>")

overnment of India relaxed various norms in the
last 12 months-<br><br>1) For foreign direct equity
investment, Indian companies have been permitted to accept
investment under the automatic approval route without the
prior permission of RBI.<br><br>2) Requirement of prior
approval from RBI for FDI/NRI/OCB investment OR FIPB/Govt.
prior approval for issue of shares to foreign investors
is no longer required.<br><br>3) Investment limit
for individual NRI/PIO/OCB in the total paid up
capital of a company has been increased to 5% from 1%.
Further aggregate limit has been enhanced from 5% to
10%.<br><br>4) NRI/OCB/PIO permitted to invest in unlisted
companies.<br><br>5) Norms for NRI/PIO/OCB investment in health
services sector has been further liberalised.<br><br>(For
details visit BankNet homepage
at<br>"http//members.tripod.com/BankNet")

feel that this club should also be a place for sharing information on business
opportunities in India and other countries. <br><br>Any takers for this
suggestion.

found that BankNet homepage is providing
updated information unlike other sites that have not
updated the contents for long.<br><br>I hope that
BankNet, being run by professionals will continue to
provide updated information in view of regular policy
changes in India.

e at "BankNet" plan to start a free monthly
Newsletter specifically for NRI's. This Newsletter will
provide in a nutshell, the important developments in
India concerning NRI's. <br><br>This will be an effort
to provide a direct interface between NRI's and
practicing professionals from areas of Banking/Financial
Institutions/Merchant Banking/Venture Capital/Mergers &
acquisitions(M&A) etc.<br><br>The Newsletter will comprise
of:<br><br>· Treasury news tracing the rupee & major currency
movements and forecast. <br>· Comparison of the best
available interest rates on various NRI deposit schemes in
different banks.<br>· Various announcements/policies
affecting the NRI/OCB investments in India. <br>·
Possibilities on the areas of investments in India by route of
M&A.<br>· Financial and Political news in brief.<br>· A
panel of experts/professionals will also reply personal
queries of the NRI's.<br>· Every issue will cover
aspects/procedure relating to start up of a venture in
India.<br><br>Email to us your request for subscription & suggestions
at:<br><br>BankNet@...<br>akbanker@...

ASSCOM have launched National Internet Center of
Excellence(NICE) at New Delhi for promoting local content
development and standards towards internet related
applications deployment in India.<br><br>CMG (Component
Management Group) and STPI are repositioning India as a
destination for component technology advancement in South
Asia. They have launched a comprehensive programme to
develop a revolutionary technology for software
development named COBRA (Common object request broker
architecture)<br><br>NASSCOM (National Association of Software & Service
Companies)<br>STPI (Software Technology Parks of India)

embers are welcome to visit "Photos" section and
add photographs to the "Sports" Photo album created
by me. I have started with the photograph of the
world's greatest batsman Sachin Tendulkar. <br><br>I look
forward to suggestions and contributions of the members
for the section.

or detailed and updated guidelines on
investments by Non-Residents of Indian Nationality/Origin and
Overseas Corporate Bodies,Visit new section "NRI
Investment" on "BankNet" Home
Page.<br><br>"<a href=http://members.tripod.com/BankNet
target=new>http://members.tripod.com/BankNet</a>"

i peoples, I was just wondering, but is this club actually for, and what do you
do??

ongratulations on the Republic Day.

isit News Section for latest on Cricket/Tennis/Hockey/Business etc,with links to
the full news.Also have weather report in celsius of the major Indian cities.

ear Technocrats,<br><br>Become a member of
<br><a href=http://clubs.yahoo.com/clubs/networkconsultants
target=new>http://clubs.yahoo.com/clubs/networkconsultants</a><br><br>Here is a
place for technocrats to gather and
distribute technically perfect and practically feasible
network solutions.<br><br>Regards,<br><br>Founder

oftware Company for this purpose is defined as
engaged in manufacture or production of software with not
less than 80% of the total turnover. <br><br>ADR/GDR
linked stock option is available to both non-resident &
resident permanent employees. Options can be issued not
exceeding 10% of issued & paid up equity. Stock options may
be issued at a discount of not more than 10% of the
market price.<br><br>Reserve Bank of India has decided
that in addition to acquisition of foreign currency
shares of foreign companies by the employees of Indian
offices/branches/joint ventures/subsidiaries in India of these foreign
companies now it will allow:- acquisition of the shares of
the overseas joint ventures/wholly owned subsidiaries
in the software by employees of Indian promoter
company.

his club has been started with objective to
provide assistance to NRI's by providing relevant
information and interface with the senior professionals. This
club has originated on request of some NRI's to
"BankNet". We are not here to provide tips for investments
in shares etc.<br><br>For more information kindly
visit "About Us" on Home Page--"
<a href=http://members.tripod.com/BankNet
target=new>http://members.tripod.com/BankNet</a>"

am under fog about what I am going to get from
here. I went to the BankNet web page, but couldn't find
anything new or interesting there. I was expecting at
least a (real) name of someone who is behind this,
under the "About us" link. <br><br>It will be very
difficult to sell an idea to NRIs unless the background and
intentions of this forum are made very clear. NRIs have many
a times burnt their fingers investing in India.

e at "BankNet" plan to start a free monthly
Newsletter specifically for NRI's. This Newsletter will
provide in a nutshell, the important developments in
India concerning NRI's. This will be an effort to
provide a direct interface between NRI's and practicing
professionals from areas of Banking/Financial
Institutions/Merchant Banking/Venture Capital/M&A etc.<br><br>The
Newsletter will comprise of:<br><br>· Treasury news tracing
the rupee & major currency movements and forecast.
<br>· Comparison of the best available interest rates
on various NRI deposit schemes in different
banks.<br>· Various announcements/policies affecting the
NRI/OCB investments in India. <br>· Possibilities on the
areas of investments in India by route of M&A.<br>·
Financial and Political news in brief.<br>· A panel of
experts/professionals will also reply personal queries of the
NRI's.<br>· Every issue will cover aspects/procedure relating
to start up of a venture in India.<br><br>Email to
us your request for subscription & suggestions
at:<br><br>BankNet@...<br>akbanker@...

Welcome, This is the Yahoo! Message Board for NRI Investment in India community.