Mumbai's financial landscape has seen significant changes as the Reserve Bank of India (RBI) takes action on JPY-linked special deposits. Once a popular tool for attracting NRI funds, these deposits were marketed as premium rupee plans (PRPs), offering high returns by leveraging the forward premium on the Japanese yen. Banks, like IndusInd Bank and Yes Bank, had been using these products to attract NRI deposits by offering high yields based on the yen's forward premium in the foreign exchange

Bank of India recently hosted an NRI Meet, “Pravasi Sampark,” in Mumbai’s North Zone, designed to enhance its engagement with the Non-Resident Indian (NRI) community. This initiative is part of the bank’s ongoing strategy to provide customer-centric financial services, catering to the evolving needs of NRIs, including banking, investment, and remittance solutions. The event highlighted the bank’s commitment to strengthening long-term relationships with global Indians by leveraging a

A 37-year-old Indian-origin information technology professional from Karnataka was shot dead in a suspected targeted attack at a shopping centre parking lot in Toronto, Canadian police said. The victim, identified as Chandan Kumar, was a native of Bengaluru Rural district and had been living and working in Canada for the past six years. According to investigators, the shooting took place on Saturday, February 7, when unidentified assailants opened fire on the vehicle Kumar was trave