MINOR PROJECT REPORT

On

“NRI Banking”

Submitted in partial fulfillment of the requirements

for the award of the degree of

Bachelor of Business Administration (Banking and Insurance)

Under the Guidance of:- Submitted By:-

Dr.Supriya Chaudhary Harsh Mohan

01914901815

BBA(B&I)

Session 2015-2018

DEPARTMENT OF BUSINESS ADMINISTRATION

MAHARAJA SURAJMAL INSTITUTE

Recognized By UGC,U/S 2(F),

NAAC Accredited

(Affiliated By GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY)

C-4, Janak Puri, New Delhi-110058

 CERTIFICATE

This is to certify that the project titled “NRI Banking” submitted by HARSH MOHAN to
MAHARAJA SURAJMAL INSTITUTE, GURU GOBIND SINGH INDRAPRASTHA
UNIVERSITY in partial fulfillment of requirement for the award of the Bachelor of Business
Administration Degree is an original piece of work carried out under my guidance and may be
submitted for evaluation.

The assistance rendered during the study has been duly acknowledged.

No part of this work has been submitted for any other degree.

Place : New Delhi Dr. Supriya Chaudhary

Dated: Faculty Guide

 ACKNOWLEDGEMENT

Any accomplishment requires the effort of many people and this work is not different.
Regardless of the source, I wish to express my gratitude to those who may have contributed to
this work, even though anonymously.

First I would like to express my deepest sense of gratitude to MAHARJA SURAJMAL

INSTITUTE for providing me with an opportunity for training and encouragement in conducting
the research work.

I would like to pay my sincere thanks to my project guide, Dr. Supriya Chaudhary under
whose guidance I was able to complete my project successfully. I have been fortunate enough to
get all the support, encouragement and guidance from her needed to explore, think new and
initiate.

My final thank goes out to my parents, family members, teachers and friends who encouraged
me countless times to persevere through this entire process.

HARSH MOHAN
 Chapter TOPIC NAME Page No.
No.
01 Introduction 07

Objectives of the study 08

Research Methodology 09

Scope 10

Limitations 11

02 NRI banking- An Introduction 13

Who is an NRI? 14

PIO card scheme 15

Types of accounts 16

Opening of NRI A/c 20

03 Literature of NRI Banking 23

Definition of NRI – under Foreign Exchange 24

Management Act,1999

FEMA Definition 24

NRE Account 28

FCNR (B) Account 31

NRO Account 32

Income Tax 36

37
Services offered by various bank to NRIs
38
 Services offered by ICICI Bank 41

RBI issues Guidelines for money transfer scheme 43

NRI Investments 46

PAN Cards for NRI 48

Demat Account

04 Analysis and Interpretation 51

Case Study on NRI Banking 52

55
Frequently Asked Questions

05 Conclusion and Recommendation 57

Conclusion 58

Bibliography 59