NR_Reminiscense

www.federalbank.co.in

ISSUE NO 1/2012-2013

ederal Bank is an attractive destination

or NRIs for their

complete banking needs.

With power packed NRE

products and services, Federal

Bank remains the preferred

bank to NRIs. At Federal Bank

NRI Services, it is our constant

endeavour to provide products

and services that will make

banking convenient for you.

NRI relationship managers of

the bank are deployed in most

of the gulf countries to bring

the services of the bank to the

doorstep of NRIs. In line with

this commitment, we now present to you, our

quarterly Customer Newsletter as a part of our

NRI Reminiscence program.

NRE TERM DEPOSITS

MILLIONAIRE FSF: The product of the time

A recurring deposit plan that lets our NRI

patrons to invest systematically over a period

of time and makes a

millionaire on maturity.

• Instalments are made

from a part of the

savings, in small

amounts and hence

will not disrupt the

financial planning

• 100% Tax free & Freely

repatriable

• Facility to register

Standing Instruction

from SBNRE accounts

• Loan Facility against

balance in the account.

NRI Patrons can open the account online using

Net Banking (FEDNET)

Period Monthly

Installment

Maturity

Amount

10Year 5,077 1 Million

9 Year 5,944 1 Million







Calculated based on present interest rates on NRE fixed

deposits. Monthly instalments are subject to change on revision

of interest rates*conditions apply*

Come avail this excellent opportunity, make

regular savings and become millionaires

FACTUAL RETURN UPTO

14.95*

Now, NRIs can earn more on

their foreign currency savings

in rupee deposit. NRE Term

Deposit is no longer a low

interest bearing deposit

scheme with Federal Bank.

NRIs can continue to enjoy

the tax free benefits and free

repatriation along with the

high return.

FEDNET BANKING (Internet Banking) Enhanced

IMPS

An instant interbank fund transfer service in

which the amount will be credited instantly to

the beneficiary. Customer doesn’t require

remembering the beneficiary

IFSC code or account number.

In IMPS, key in the

beneficiary’s mobile number

and Mobile Money Identifier

(MMID) to do safe and instant

transfer to any bank which is

participating in this service.

ONLINE FEDNET PASSWORD

GENERATION USING ATM PIN

To obviate the difficulties in

getting FEDNET repin, when

users forget his/her password

online password generation

using ATM pin is enabled.

TWO FACTOR AUTHENTICATION (2FA)

Currently FedNet transactions are

authenticated through Login passwords and

transaction passwords. In order to insulate the

customer from the threat of password thefts,

Bank has implemented Two Factor

Authentication facilities. This provides

customers who subscribe for this facility

greater protection from threat of phishing

attacks by registering their frequently used

computers or by using the dynamically

generated tokens for authentication

REMITTANCE COMPETANCE

7 % of the total remittance routed to India

from abroad is through Federal Bank

• Extended Working Hours to

strengthen the remittance

relationship (8 AM to 8 PM and

working on holidays)

• Tie up with almost all the major

players in GCC which provides comfort

to our Clients to remit money from

their proximity(57 Exchange House &5

Banks)

• Correspondent banking arrangements(

Nostro accounts)with 18 international

banks in different parts of the globe to

deal in 11 major currencies of the

world.

Our representative office at Abu Dhabi is

functioning with the objective of giving quality

customer service to our customers in the

Middle East. The Rep Office is headed by a

Chief Representative Officer, assisted by NRI

relationship Managers spread across the GCC

Countries

Abu Dhabi Representative Office

P O Box No. 112927,

#402, 4th floor,

Emar Building,

Al Falah Street,

AbuDhabi, UAE

Phone: +971 2 6429384, +971 2 6429368

Fax: +971 2 6429386

[email protected]

FedFast

NRIs can make Rupee remittance

from Gulf countries to the

beneficiary’s account in India.

Once the remitter remits money

at the Bank / Exchange house in

the Gulf, the amount is credited

to the beneficiary’s account with

Federal Bank or any other Bank

within a short span of time.

57 Exchange House & 5 Banks

NRE returns: Record Leap

Period

Rate of

Interest*

Actual return*

1 year only 10 10.38(12 Months)

Above I year

to less than 3

years

9.5 10.33(24 months)

10.80(35 months)

3year to 5

year

9.25 10.52(36 months)

11.04(48 months)

11.59(60 months)

12.18(72 months)

13.48(96 months)

14.19(108 months)

14.95(120 months)

100% TAX free, 100% Repatriable, High Returns The rate and actual returns is for deposits of below 1 Crore.

Contact your branch for deposits above 1 Crore.

Remit more and Earn more when the exchange

rates are attractive

100 BRANCHES ON A SINGLE DAY

On 10 March 2012 the world witnessed the

massive organic expansion of Federal Bank on

a single day, when we launched our 100

branches and 100 ATMs across the country.

Our Hon. Union Finance minister Shri. Pranab

Mukherjee formally inaugurated the 100 new

branches in a sparkling launch ceremony at ITC

Maurya hotel, New Delhi. Ace cricketer and

former captain of Indian cricket Team,

Shri.Kapil Dev formally launched our 100

ATMS. Let us take this proud moment to

express our sincere gratitude to our beloved

customers and business partners around the

globe for their boundless support and

patronage that enabled us to cross the

prestigious milestone and to make us the most

sought after financial institution delivering the

most delightful banking experience.

Portfolio Investment Scheme.

Trade on recognized Indian stock exchanges

under the Portfolio Investment Scheme (PIS)

through Federal Bank from any corner of the

world. Choose World class brokers of your

Choice form our List. Easy and convenient way

for secondary market investments with the

option of online or offline modes of trading.

Reduction in STT (Security Transaction Tax) by

20% (from 0.125% to 0.1%) on cash delivery

transaction is positive for the market.

Customers just need to place the orders, and

remaining things will be taken care of by us.

24*7 customer support. For more details visit

our website.

Feature of Our PIS…

1) Online and offline trading facilities

available.

2) View facility of Holdings for Federal

Bank DP.

3) Internet banking facility for PIS A/c.

4) Zero balance account opening.

5) Competitive rates.

Fedfast Plus

Fedfast Plus offers you the biggest

advantage that the amount sent

from abroad will be directly

credited to beneficiary's account

in India in seconds. This facility is

enabled for Instant Remittance

from a Correspondent Bank /

Exchange House

Al Ahalia Exchange, UAE

Al Ansari Exchange, UAE

UAE Exchange, UAE

Lulu exchange, UAE

Al Dar Exchange works, Qatar

Modern Exchange, Oman

Al Mulla Exchange, Kuwait

UAE Exchange, Kuwait

NEWS

Union Budget 2012-13

The Union Budget 2012-13 was presented by

the Finance Minister in the wake of a

challenging business environment and weak

global economic conditions. 2011-12 was

described as the “year of recovery,

interrupted.” With a somber global outlook,

sustained slowdown in Indian GDP growth,

high inflation, elevated deficits and low

investor confidence, the current year has been

testing for the Indian economy. The good news

is that, while the GDP achieved of 6.9% was

low as compared to that of previous years,

comparatively it still put India in the top five

economies of the world.

Budget 2012 and its impact on NRIs

Measure: The government of India will now

allow qualified foreign investors access to the

Indian corporate debt market. Qualified

foreign investors, or QFIs, can be individuals,

groups or associations based abroad.

Impact: This proposal, when implemented will

deepen the country's shallow bond market and

also open up a lucrative avenue for foreign

individual investors who are keen to

participate in India's growth story. But, NRIs

will hope for something more. On paper, NRIs

were always permitted to invest in Indian

corporate bonds. However, it required the

issuing companies to enable the option for NRI

investors with specific permission with the

Reserve Bank of India. Often, companies chose

not to do so, restricting access to NRIs. It is

hoped that this move will also improve access

for NRIs in the corporate bond market.

Measure: To introduce mandatory foreign

asset reporting; income tax body to have

powers to open previous returns of up to 16

years to check for tax evasion

Impact: While the intention of this proposal is

to bring to book all those who have been

evading taxes by stashing their money abroad,

one fears that it will create unnecessary

reporting requirements and needless

harassment for NRIs who have returned to

India after a long stint abroad.

Measure: The Direct Tax Code (DTC) which was

expected to be implemented from April 2012,

has been deferred for now

Impact: This might come as a relief for NRIs as

some of the provisions of the DTC were quite

harsh. For instance, under the proposed DTC,

any individual (including NRIs/PIO) will

become resident, if they are present in India

for 60 days or more in the financial year and

365 days or more over a period of four years

prior to the financial year and would be liable

to pay taxes on their global income. This

proposal would have impacted all those NRIs

who visited India frequently for personal or

business purposes.

Measure: To allow electronic voting for

shareholders

Impact: If the Government allows electronic

voting, this will help NRI shareholders to

participate more actively.

Measure: Gold purchases in India to become

expensive; customs duty doubled

Impact: If keeping your money in India in the

form of gold has been a favorite avenue that

might just change. Gold will become more

expensive as the FM doubled customs duty.

Disclaimer: The information and opinion

contained here in are gathered from various

sources including press, without any liability from

part of Federal Bank or its employees.

Yours views and suggestion may please be sent to:

NRI Division, International Banking, Federal Bank, Marine Drive, Ernakulum 682031

Ph: 0484 2385599, 2385511 Email: [email protected] |[email protected]

NR_Reminiscense

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