NRI Top Stories ( Page 35 of 47 )

NRIs seek assurance and transparency January 06, 2015 15:16

NRIs arrived in Gujarat to attend the 13th edition of Pravasi Bharatiya Divas (PBD) from January 7th to 9th in Gandhi Nagar; governments of all most all states are trying to woo the NRIs for investing in their states during this occasion. All the NDA ruling states and the states like Uttar Pradesh, Bihar, Orissa and Tamil Nadu are preparing for inviting and engaging the NRIs. NRIs also willing to invest money in various sectors but they are clearly seeking the support from the governments and banks; they do not want to take risk by starting forms and other organizations. State governments utilize the opportunity every year by promoting their incentives (land, labor, energy). This time also governments looking forward to grab the NRIs support. Many states are offering Single-Window System where all the required permissions and approvals can be obtained by providing sufficient information and documents. Earlier it was tough to start a company or industry because of unnecessary and time-delayed provisions. Now the governments are present the vibrant opportunities and possibilities in a detailed manner with effective technological assistance (like power point presentation, readily available videos, and well designed catalogues). While speaking to media, many NRIs are expressing their interest to come back to India or to start projects in the mother land with a clear assurance from government authorities. Hassle free environment can boost investment in India by Non Residents of India. PBD is celebrated every year to mark the arrival of Mahatma Gandhi to India from South Africa in 1915. Every year successful and well named NRI shall be felicitated on this day. NRIs come to the nation to participate in the events. AW: Kannamsai

NRI's house burgled in Gurgaon January 03, 2015 16:14

NRI's house was burgled by unidentified men in an Upscale residential area and reportedly took away idols of gods made of gold and silver, and golden ornaments worth over 1 crore. Nitin Goyal, an NRI after returning to his home from US and lodged a complaint at the Sushant Lok police station about the burglary, then only the news came to the light. In his complaint, NRI said that he had duly informed the Gurgaon police deputy commissioner about his trip before he left for US and also informed the US embassy on November 4. He said that this is the responsibility of the police department to ensure protection and vigilance on such burglaries and illegal activities. In his complaint he also said that US dollars and Indian currency of lakhs of rupees also found missing. The police department accompanied by the Finger prints and forensic team collected the evidences and prints of the thieves from the house. AW: Kannamsai

NRI died of Cardiac Arrest January 02, 2015 12:32

Hasan Abdul Kabir Bagef Chaush (54), an NRI from U.A.E died of Cardiac Arrest on Tuesday night, who is in India for attending his nephew’s marriage scheduled on Wednesday at Gangapur, Aurangabad. He suffered the fatal Cardiac arrest while performing the Sharaa, a traditional dance. After his death his relatives postponed the marriage. According to relatives of Hasan Abdul Kabir Bagef Chaush, he was an official with the oil and petroleum ministry in UAE, after autopsy his body was carried to Mumbai and it shall be flown back to UAE. AW: Kannamsai

Richard Verma sworn in as US ambassador to India December 20, 2014 10:30

Indian-American Richard Verma sworn in as US diplomat to NEW DELHI, by Secretary of State John Kerry. He is the first Indian-American to be appointed for this High post. Richard Verma was confirmed by the United States Senate a week ago by voice vote. He will replace Nancy Powell, who resigned for this post over Indian officer in US Devyani Khobragade's issue. Verma was chosen for strong Indo-American ties and he’ll be arrived in India before Kerry’s visit in early January and Obama for R-Day ceremony to India. Verma parents migrated to US in early 1960s. Many affirmed his choice as the right step for better relations with India and He will deserve the position. AW: Kannamsai

Indian American jailed in fraud case December 17, 2014 16:17

Sachin Uppal, 37, An Indian American in Brighton, Michigan sentenced to 64 months imprisonment by a federal court for $3.8-million in a fraudulent investment scheme. U.S. District Judge Nancy G. Edmunds sentenced Uppal, following his August guilty plea to wire fraud charges. Court documents shows that, Uppal maintained the Jefferson Smith Trading Company LLC (“JSTCO”) from July 2007through September 2013. Though Uppal was not a licensed investment advisor, he marketed JSTCO to potential investors and accumulated investor funds, describing it as a “hedge fund.” Uppal introduced himself to the investors as a “day trader,” who commonly use investor funds to buy and sell financial instruments within the same trading day, which can reduce risk to investors.Among the victims of Uppal his family friends were also there. In this type of affinity fraud cheaters oftenly targets members from identifiable groups, such as a religious or ethnic communities or clubs. Uppal was ordered to compensate his victims in the amount of $3,867,187. Uppal simply filled his stomach with the money without conducting any trades at all. When investors asked to close their accounts and withdraw their investment funds, Uppal smoothly suggested them not loose profitable duck. Uppal promised a return of 18 to 20 percent of the total amount per year, with a minimum investment commitment of only 12 months. After accumulating initial investment, Uppal emailed his victims fake “year-to-date investment summaries” to pretend that their accounts were performing continuously and to convey them to invest additional funds. Investors are suggested to approach the Financial Industry Regulatory Authority (FINRA) website (http://www.finra.org) and its Broker Check resource before investing in any firm or to any person. Uppal really betrayed everyone who believed in him including family members and well wishers also. AW: Kannamsai

Indian-origin Vivek Murthy to become America's Surgeon General December 16, 2014 13:05

Vivek Murthy(37), who was born into a family from Karnataka, is going to be the youngest doctor to hold this position in the history US. Generally this post "Surgeon General" is termed as "America's Doctor". He was an outspoken supporter of Obama's healthcare reforms. Dr.Vivek Murthy, working at Harvard's Brigham and Women's Hospital as a physician.Murthy studied biochemical sciences from Harvard and then a combined medicine and business degree from Yale. And Republicans were strongly opposed his appointment, as he tweeted against them in october 2012. Murthy won 51-43 vote.Obama Expressed his happiness over his choice. And said that Murthy will hit the ground running and build on the progress we’ve made combating Ebola. After Sri Srinivasan, Nisha Biswal, Rich Verma, Aneesh Chopra, Preet Bharara, Rajiv Shah, Puneet Talwar,and Vivek Kundra for highest posts in various positions for various departments he is another from Indian- Origin. AW: Kannamsai

NRIs can get benefit from Rupee Weakening December 12, 2014 19:01

10% bonus can be obtained from weak markets. This is specifically applicable to NRIs who will get benefit out of Weaker Rupee value in international currency exchange. For the past few weeks Rupee is under depreciation in stock market , which can only benefit NRIs to invest in India in Property buying. If the exchange value goes to 55-57 then they will get chance benefit nearly 10 percent as bonus. This is the suggestion from Real estate and Infra industrial side. Market analysts also advising NRIs to go ahead with property purchasing in India in this kind of situations. AW: kannamsai

Vijay Jolly made GOPIO's Political Advisor December 10, 2014 17:23

Vijay Jolly, Member of the National Executive Committee of the BJP, has been appointed Global Political Affairs advisor of the Global Organization of People of Indian Origin, International. GOPIO established in the year 1989 and has been working for 28million NRI and Persons of Indian Origin (PIOs), in more than 25 nations across the globe. Ashook Ramsaran, president GOPIO International with headquarters in New York, US, wrote to Jolly and confirmed his appointment, said a release from Jolly's office. Vijay Jolly was in news with strong comments on than Delhi Cheif Minister Sheila Dixit and Suresh Kalmadi over alleged financial irregularities in the 3–14 October 2010, XIX Common Wealth Games in Delhi.He was member of Delhi's Legislative assembly from saket constituency. He was attacked by a mob in Nepal on july 3rd of 2014, while returning after addressing a meeting of Nepal's ruling coalition partner CPN-UML. This former BJP MLA was active in Delhi politics and is now associated with All India Incharge & Prabhari of Tripura State, BJP and All India Incharge & Convenor of Foreign Cell, BJP. Aw: Kannamsai

US-based environmental group raise funds for Punjab September 17, 2014 17:08

EcoSikh, a community environmental group based in Washington, is raising funds for supporting environment action in the state of Punjab and in other parts of the world. The group celebrated the fifth anniversary of EcoSikh’s founding over the weekend. During the event more than 300 Sikhs attended the gala for Earth's ecological future. The gala was a star-studded event with musical performance from Devender Pal(of Indian Idol fame), Pal Singh and renowned music composer Shankar Tucker. Pal Singh had traveled especially from Punjab for the event. Devender entertained the audience with songs from Indian movies and Punjabi Sufi numbers. EcoSikh has supported several projects in Punjab and across the world with its two staff in India and one in Washington. The environmental group also has projects in the holy cities of Amritsar and Nanded (revered by the Sikh community). President of EcoSikh Rajwant Singh, while appealing to the community to support the environmental awareness and tree plantation drive in Punjab said that the state was facing severe ecological consequences of pesticides and chemical fertilisers overuse. This is harming Punjabis who are facing with serious health challenges. Rajwant Singh urged all Punjabis, particularly the Sikhs, to make clean environment the top agenda of the community. (AW: Pratima Tigga)

India-born nurse's family get $550,000 donation from Royal prank radio station September 13, 2014 17:41

Royal prank radio station did it for fun but India-born nurse Jacintha Saldanha was so stressed by the entire episode that she committed suicide. Now the Australian radio station that aired the prank donated $550,000 to Saldanha. The radio station did not take responsibility for her death but made the donation to the family to enable them in rebuilding their lives. Southern Cross Austereo stated that the money would be donated to a trust fund for Jacintha Saldanha's family. A spokeswoman said they know the donation or any amount of money would not be able to relieve the feelings of loss felt by the aggrieved family. But they hope the donation will help them in some way. Jacintha Saldanha, a native of Mangalore in Karnataka, had committed suicide in the nursing accommodation of King Edward VII hospital within days after the prank. Through the prank the hospital staff were tricked into revealing the first pregnancy-related details of Kate Middleton by two Australian radio Djs. Greig and Michael Christian posed as Queen Elizabeth II and Prince Charles during the prank in December 2012. On the night of the prank, Saldanha took the call and transferred it to the duty nurse on the Duchess of Cambridge's ward. The 46-year-old mother of two later wrote an apology letter to the nurse, who was looking after the Duchess. Though the radio station conveyed its condolences but they have not accepted the blame for her death. Saldanha's death inquest was concluded as suicide yesterday. (AW: Pratima Tigga)

NRI group to honour two Indian-origin US professors September 10, 2014 17:22

Two Indian-origin professors associated with the University of Texas, Arlington will be honoured by the Non-Resident India (NRI) Welfare Society of India. The India-based association reportedly said that the two professors will be honoured for their contributions in the fields of chemistry and biochemistry. The two proffessors - Krishnan Rajeshwar, professor of chemistry and biochemistry and Subhrangsu Mandal, associate professor of chemistry and biochemistry at the University of Texas - were selected by the India-based NRI association for the awards. Subhrangsu Mandal will be honoured with the Mahatma Gandhi Pravasi Samman award at the NRI Welfare Society conference to be held in London next month. While Krishnan Rajeshwar will receive the Hind Rattan award at a conference to be held in India. The NRI association stated that these awards were in recognition of "those Indians who have made their mark overseas and have kept the flag of India high." Krishnan Rajeshwar, while reacting to the award, said it was gratifying to know through the award that he was making a small contribution to enhancing the impression of Indians abroad. He also said that he feels humbled for being appreciated by people from his birth country. Subhrangsu Mandal also said that he feels honoured to receive the NRI Welfare Society of India award. Mandal has been associated with the UT Arlington College of Science since 2005. (AW: Pratima Tigga)

Indian-origin fund manager gets 9 years in jail in US September 09, 2014 18:28

An Indian-origin portfolio manager in US has got a sentence to serve 9 years in jail. Besides he was ordered to forfeit a USD 9.3 million bonus earned through the insider trading schemes. He was charged for his role in the "most lucrative" insider trading schemes involving USD 276 million. Mathew Martoma, 40 years, was sentenced by US District Judge Paul Gardephe at a federal court in New York on Monday. Judge Gardephe ordered Martoma to forfeit his interests in his Florida home and several bank accounts, while describing his conduct as "deeply corrosive to our financial markets," creating cynicism among investors. Martoma's sentence is one of the longest handed down for insider trading and is in line with what was sought by Manhattan's top federal prosecutor Preet Bharara before the hearing. Bharara had termed Martoma's role in the insider trading scheme as "central" and asked for a prison term of more than eight years along with forfeiture of his bonus. The India-born federal attorney sais that the sentence should be "commensurate" with the serious nature of the offense and the highly lucrative illegal profit it generated. Martoma worked in the capacity of a portfolio manager at CR Intrinsic Investors, which is a division of hedge fund giant SAC Capital. Earlier in February this year, Martoma was convicted for gathering confidential information related to a top secret Alzheimer's drug trial from two doctors. He made huge profits and avoided losses amounting to 275 million dollars for SAC Capital. (AW: Pratima Tigga)