
Readers
Questions/Answers Page
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Email questions to: V. K. Chand at:
question@nriinformation.com
Answers are normally posted in three days.
Drive in India with UK license
Q: Dear Sir
I am an OCI and want to drive car in India on a short holiday
what documents I require and how to go about it apart from full
UK driver license which I already have, thanks for prompt reply,
Baig
A: As long as you are a
tourist in India you should be able to drive in India if you
have with you your valid UK driving license AND a International
Driving Permit (IDP). Your UK driving license is not recognized
without a IDP. You MUST have both these documents. As long as
your IDP is valid you can drive with it.
An International Driving Permit (IDP) allows you to drive a
private motor vehicle overseas when accompanied by a valid UK
driving license. IDPs from UK are valid for 12 months from the
date of issue.
You can obtain an IDP over the counter at many post offices in
the UK. You must apply IN PERSON (no third-party applications).
You must complete an application form, available from the post
office. You must also produce one of the following ORIGINAL
valid documents:
√ Your UK driving license, or
√ Your UK pass certificate (certificate of competence to drive,
valid for two years from the date of your test), together with
your provisional driving license.
Once you get an IDP from UK you would be able
to drive in India. Remember you must carry both the IDP and your
UK drivers license when driving in India.
International Driving Permits are not meant to be a replacement
for Indian Driving Licenses, If you are not a tourist but
returning to India for resettlement then you should apply for
and get a valid Indian driving license. To get a Indian driving
license you will have to go through the full procedure of
getting a license. Your UK driving license cannot be simply
exchanged for a Indian Driving License.




Safety of Deposits in Indian Banks
Q: hello how are you. i get your e:mail from Nri information. I have some question with you. i want open my nri account. if i deposit very big amount in my nri account. how i know my money is save in my nri account. I am USA citizen. I am also apply my dual citizen.
I want open my business in India. i want settle in India.
i will get dual citizen soon. after can i open my business
in India. thanks
raman garg
A: Indian bank deposits are insured for only up to Rupees one lakh. No one can offer you a guarantee that your money will be safe in India beyond this amount. When dealing with banks your choice of banks should be based on reputation and research.
While deposit insurance in India is, shall I say next to
nothing (only around $2000) In the country's history no
public sector bank had been closed down, as they were either
amalgamated or propped up by the Government. Check
here for various banks in
India.
The Indian Prime Minister Mr. Manmohan Singh stated in the
Lok Sabha on October 20, 2008, " I wish to assure depositors
in our banks that their deposits are entirely safe"
Whether you believe him or not is a decision you will have
to make. However people do have thousands of crores of
Rupees in the Indian banking system. It all comes down to
ones level of tolerance for risk and belief in the system
but there are no specific guarantees. The majority of people
consider banking to be safe and continue to keep their money
in banks. On the other side of the coin banks can and
sometimes do fail. Governments can change and banking laws
and regulations also are subject to change.

Why the Indian government has failed to up the deposit
insurance on bank accounts I fail to understand as this will
certainly assure Non Residents of the safety of their money.
NRIs may find it interesting to note that in a written reply
in the Lok Sabha, Minister of State for Finance Mr. Pawn
Kumar Bansal said, "92.6 per cent bank deposits are fully
protected under the Deposit and Insurance and Credit
Guarantee scheme" Surprisingly such a high percentage of
people have accounts up to only the insured amount of Rupees
one lakh.
As for the second part of your question, as an NRI you can
open a business in India. You do not need to be a citizen of
India for the purpose of opening a business in India.
Furthermore India does not allow dual citizenship. The
Overseas Indian Citizen is often mischaracterized as 'dual
citizenship' is just a lifelong visa.
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