The quake was at a depth of 503.2 km
asia2 hours ago
With attractive career prospects and a safe, multicultural environment, people from across the world fly down to the UAE to reap various opportunities, indulge in a better standard of living, and, of course, send part of their income back home to loved ones.
According to estimates by the Abu Dhabi Embassy of India, there are over two million Indian expatriates residing in the country; a mix of blue and white-collared workers who make up about 26 per cent of the total population.
Bringing a slice of home to a foreign nation, various Indian associations have set up base in the UAE over the years to cater to the welfare of Non-Resident Indians (NRIs) and their businesses. Among these are Indian banks that provide information on dynamic trends back home and cater to the financial requirements of the expat community.
Some of its services include special non-resident accounts that help NRIs conveniently earn attractive returns and maintain savings in foreign currency. Others feature deposit and investment schemes, mutual funds, home loans, tax payment and money transfer and remittances - all of which help NRIs hold the reins over their financial responsibilities while working abroad.
According to the World Bank Migration and Remittances Factbook 2016, the UAE ranked fourth in terms of outward remittance flow at $19 billion in 2014, and a large chunk of it can be attributed to non-resident Indians (NRIs) in the country.
The documents typically required by Indian banks here, besides the application form, are photographs of the applicant, passport copy with valid visa page, proof of an address in the UAE (such as a tenancy contract or utility bills) and a copy of the labour card. NRIs can also present a copy of their PAN card. These banks comply with the regulations set by the Reserve Bank of India (RBI) whilst observing the rules set in place by the Central Bank of the UAE.
Commercial banks and representative offices of Indian banks and financial institutions in the UAE, recognised by the Central Bank of the UAE, as of September 2014: Andhra Bank AXIS Bank Ltd Bank of Baroda Bank of India Canara Bank - India Corporation Bank Federal Bank Limited HDFC Bank Ltd Housing Development Finance Corporation Limited ICICI Bank Ltd Indian Overseas Bank Induslnd Bank Ltd Kotak Mahindra International Limited Oriental Bank of Commerce - New Delhi, India Punjab National Bank SBI Funds Management Private LTD State Bank of India State Bank of Travancore Union Bank of India |
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