NRE / NRO Accounts

[VinPetrol]

 

4 minutes ago, HugoStrange said:

kaka chinna doubt, if I deposit money from US to India in NRE account. If I invest in stocks in India (Dmat use chesi), then sell chesaka nenu NRE ki transfer chesukovacha from that Dmat and also can I get it back to US?

No deposit in india to NRE..  

only US nundi ithe ne depoist to NRE.. 

daniki NRO kavali if deposits in India

[ANChaSKI]

Thank you all for the suggestions, appreciate your help🙏.  we will open accounts in HDFC bank. 

[Sanjiv]

9 hours ago, hyperbole said:

One of the worst banks out there, only benefit is you get better rates for home loans

I had HDFC and ICICI, both disabled as they were inactive and little money they had went as fines towards minimum balance fines and I never bothered, also had SBI NRE because of home loan, they make it so difficult to transact, effing 2 levels of passwords and I forgot one and no clear path to reset it unless I submit some form in the bank and then they will send me a temp password in the letter. The level of incompetence at the local branches is next level  

There is a classic state of incompetence at government agencies. They don't know the concept of technology or how to use it optimally to reduce paper work.

I was helping someone file for passport renewal when it was CKGS and the site was a fuking disaster with a TON of paper work. Then the contract got transferred over to VFS and still ridiculous and frustrating with so much paper work. For all my gifted capabilities, it was a challenge to finish the renewal form. Then when there is an issue, good luck getting in touch with customer care.

i looked at his old passport and it was written by hand! Holy Crap!! The embassy could not manage it due to their incompetence, contracted it over to CKGS and now VFS. Even in 2023 (after all the very old uncles retired ages ago), if the embassy doesn't know technology or how to use it... God save that country! There is still no proper system.

[SaradaChinnodu]

6 hours ago, HugoStrange said:

kaka chinna doubt, if I deposit money from US to India in NRE account. If I invest in stocks in India (Dmat use chesi), then sell chesaka nenu NRE ki transfer chesukovacha from that Dmat and also can I get it back to US?

no bro. two things here

1) you cannot deposit INR to NRE account, it has to be NRO.

2) I dont think you can invest in Indian stock market using DMAT account (unless you have it opened while you are in India or opened specially with NRi related paper work)

Either way you cannot deposit INR to NRE account. 

[hyperbole]

40 minutes ago, Sanjiv said:

There is a classic state of incompetence at government agencies. They don't know the concept of technology or how to use it optimally to reduce paper work.

I was helping someone file for passport renewal when it was CKGS and the site was a fuking disaster with a TON of paper work. Then the contract got transferred over to VFS and still ridiculous and frustrating with so much paper work. For all my gifted capabilities, it was a challenge to finish the renewal form. Then when there is an issue, good luck getting in touch with customer care.

i looked at his old passport and it was written by hand! Holy Crap!! The embassy could not manage it due to their incompetence, contracted it over to CKGS and now VFS. Even in 2023 (after all the very old uncles retired long ago), if the embassy doesn't know technology or how to use it... God save that country! There is still no proper system.

Don’t tell me how painful it is, i was one of the sufferers during that transition, idiots send back my OCI package back only to reapply again, $200-$300 got wasted in processing fees and ups postage/notary etc, when the new agency came in I had to start over again. 
 

they ask so much paper work and don’t even know how they are handling it? Few years ago, SFO Indian embassy got caught giving out the documents without shredding them to a recycle agency and that agency dumped it somewhere and then some news reporter covered the news on how poorly they were handling peoples confidential information as they were dumped in plain sight

[Sanjiv]

1 hour ago, hyperbole said:

Don’t tell me how painful it is, i was one of the sufferers during that transition, idiots send back my OCI package back only to reapply again, $200-$300 got wasted in processing fees and ups postage/notary etc, when the new agency came in I had to start over again. 
 

they ask so much paper work and don’t even know how they are handling it? Few years ago, SFO Indian embassy got caught giving out the documents without shredding them to a recycle agency and that agency dumped it somewhere and then some news reporter covered the news on how poorly they were handling peoples confidential information as they were dumped in plain sight

I keep wondering who hired these clowns still living in the stone age. Why can't the embassy manage the show instead of contracting it to 3rd parties? So incompetent, they don't deserve to keep their jobs.

Digital India, Digital India ani urike arustar, what's the use? Paina pataram, lona lotaram

[Gulebakavali]

22 hours ago, krishnaaa said:

I use my parents account for rent deposit. I have regular account also but don't use much.

Never needed nre or nro.

That's the key. If someone wishes to settle down here, they should get their affairs in order. Most parents and siblings won't be the same down the road when you want to sell your properties and bring the money back. I have known many uncles in their 45-50 range  going through this, when they want to pay their kids college fee by liquidating investments back home.  You should the one holding your bag, but you do you.