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Topic : Facilities to returning NRIs
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NRIs Returning to India

 

Will financial crisis effect NRI remittances into India?

Created by : Sudeep Tarafdar, Senior Consultant, IBM  | 11 24 2008 07:13:19 +0000
Industry : Management & Strategy ConsultingFunctional Area : India(Markets)
Keywords : INDIA Financial Crisis NRI Effect Economic Meltdown Global Crisis NRI Remittances Non Resident
Activity:  379 views;  last activity : 07 06 2010 20:18:09 +0000

The recent financial crisis has got a lot of people questioning whether the explosive growth that this sector has seen would continue or not. Would as many people go abroad and would they still send as much money back home. What would you say?

Any thoughts ??? 

  
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Sudeep & Amit, many NRIs too are affected by financial crisis. However, there are many Indians abroad who will be not having jobs. I don't see much remittances flowing back. And in case of a ‘cash-surplus’ NRI, he/she would not find it an extremely lucrative option to enter as the equity and realty markets in India have taken a beating of late, the valuations are also at low levels.This things will somewhat reduce the momentum & people will also be coming back to India.
By Dayanand Deshpande, Senior Consultant, Ernst & Young  | 11 24 2008 07:32:16 +0000
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yes sudeep i agree with you, Indian banks are considered much ‘safer’ options to keep money since the recent crisis; interest rates overseas are abysmally low coupled with the fact that the RBI too had increased NRE deposit rates, making it more sensible to park the money in India.
By amit chaudhry, Senior Consultant, IML  | 11 24 2008 07:21:35 +0000
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I definitely find no reason for this trend to change because people will always migrate for better opportunities & the dollar is at a high and is expected to be so for a while....
By Sudeep Tarafdar, Senior Consultant, IBM  | 11 24 2008 07:13:19 +0000
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