Dear Customer,
Welcome to citinri update, the monthly newsletter from Citibank NRI business for you.
Citinri update is an initiative that will provide Global Indians like you a ringside view of events, news and happenings at 46 centers across the globe that Citibank NRI Business operates out of. This newsletter will include news that you can use especially from the world of finance. Through this update, we will also try to provide you latest information on the NRI Business product offerings, regulatory changes and other issues that would interest you.
I hope you'll find this newsletter valuable.
Atul Kotwal
Product Head
NRI Business
YOU CAN REACH US MORE CONVENIENTLY
Citibank NRI Business has announced two major enhancements in its Customer access channels
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The CitiPhone platform,currently serving customers across the US, UK and Singapore, is now available 24 hours, seven days a week.
The branch network in India has increased to 26 branches across 19 cities - including Noida, Surat, Lucknow and Faridabad.
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You may forward this newsletter to friends to inform them of Citibank's services.
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The Satya Paul Fashion Show in London
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A magical evening showcasing Satya Paul's latest collection was held at at Madam Tussaud's in London for top CitiGold customers and prominent NRIs in London.
The show attended by London's elite, had India's top ramp models displaying the latest Indian Fashion has on offer from Satya Paul, India's leading Fashion House.
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| Adding a lilting touch to the event was the young music sensation, Raghav Sachar who had the models sashaying to his rhythms. |
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Picture Card launched for Rupee Checking Account customers
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Citibank NRI Business has launched the Picture Card* - another value added feature to make the Citibank Rupee Checking Account far more valuable for the discerning NRI.
Now, Citibank RCA customers have the option of putting their favorite picture on their ATM/Debit Card, ensuring that their memories stay right beside them, always.
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Get in touch with your nearest NRI center to avail of the RCA Picture card.
* Currently this product is not offered to our customers in Australia and Canada.
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Student's Rupee Checking Account launched
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The Reserve Bank of India has accorded NRI status for students going abroad.
Recognizing the need for money transfers by this important segment of NRIs, Citibank NRI Business is offering the Rupee Checking Account to students studying abroad.
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| With all the powerful benefits of the Rupee Checking Account, the NRI students now can transfer money home, absolutely free! As an introductory offer, students can open the Citibank Rupee Checking Account with a minimum balance of just USD 250* instead of the normal minimum balance of USD 1000. |
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Disclaimer: The information in this section and any hyperlinks therefrom are owned and controlled by entities other than Citibank, N.A. Citibank, N.A., neither endorses the information/views therein, nor does it make any manner of recommendation thereof. Citibank, N.A., shall not be responsible or liable to ensure security or content integrity of these section/s.
Rupee rise: Opportunity and challenge?
India's currency policy is still skewed by the 1991 gold-pledging experience, as witnessed by the huge dollar reserves it maintains by subscribing to US T-Bills. The funds could be used better to help promote Indian exports and investments.
Full article by Ramanujam.
Dubai scraps re-entry rule for visas
Acting quickly to ensure public safety and reduce problems for expatriates looking for jobs in the UAE, following the Kish Airline plane crash in Sharjah that resulted in the death of 12 Indians and other expatriates, the Dubai Government has taken a decision to scrap the requirement that visitors have to leave the country to change visa status.
Full article by Vimala Vasan.
Your questions answered...
Will the interest on deposits in banks outside India, taxable in India? Is interest on Resident Foreign Currency (RFC) accounts chargeable to income-tax?
More such questions and answers. Click here for details.
NOR to-dos in the North Block
In almost all countries, the base for direct taxes depends on the residential status of the taxpayer. Only two classes of taxpayers - residents and non-residents - are recognised all over the world. India though is an exception where a third category has been spawned - resident but not ordinarily resident (RNOR). Full article by K. Srinivasan.
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Never hand over your Citicard to anyone.
Do not disclose your Internet Password (HPIN) to anyone. Citibank never solicits information about your HPIN, either directly or indirectly, through e-mail, phone, fax, letters or any other form of communication.
Whenever you need to use the Internet Password (HPIN), please ensure that you check that it is a Citibank site, which is www.citinri.com.
Verify the security of the site. This depends on the type of browser you use, Netscape 4.7 and IE 5.5 does this by showing a locked padlock. Microsoft Internet Explorer displays a lock  on the status bar.
Click on the unbroken lock on the bottom of your browser's bar. Input your Internet Password (HPIN) only if the site shows you the Citibank certificate.
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