Bipat

Noni, I am spending time messing about with this forum while photocopying for the 4th time copious documents to send by courier to OH's Indian bank. He is just transferring an account to a different branch.
"Indians are driven mad by India also", he points out.

To be practical, do you have anyone in India that you can give power of attorney to? It can be done from UK if attested by a notary. I showed the letter you received to OH, he also suggests you include reference to your illness in any letters, this is usually taken into consideration in such matters.

noni

Thank you for your advice - have spoken to some people out there, looks as if I can only do what Andy advises. Just my luck - but this problem is the least of my worries at the moment. However much money you have you cannot buy, health or happiness.

just received this !

"The Reserve Bank has mandated all banks that mainatain foreign national accounts in India to block the accounts and transfer the funds back to the country of origin after completeing certain formalities only if their visa has run out. The visa submitted while opening the bank account

If the visa runs out the account has to be closed and funds transferred back.

With regards to the sale of apartment , to the best of my knowledge no bank would accept the sale proceeds in the bank account. I need to check this out with nationalised banks . HDFC , ICICI & Axis is a no."

noni

Hi Andy
Do you have an email address for these people. thanks

dreadsoc

HDFC CUSTOMERS

If you have a account at HDFC it may be advantageous to try and withdraw yours funds ASAP......I have just heard of one of their customers being notified that their account is to be frozen as well.

Dread - x

a_f_d

Their website has a HelpDesk address as [email protected]

AndyD 8-)₹

noni

Thanks.

Return of Santan

Hi,

I am just back from a stress free holiday in civilised Canada and found this worrying post on the freezing of foreigner bank accounts, does anyone know if this ruling is now applicable to ALL Indian banks ? Below is my quote to Pengha from a previous thread on the subject "bank account if no longer resident" #10 . 04/13

Has anyone had any notification from the B.O.B ?

Thanks

RofS



"I had this conversation a couple of months ago with a B.O.B manager and according the manager it was OK to keep an account open providing there were transactions happening in a fiscal year. The only problem was if you took ill and couldn't return to Goa/India the bank, would have to appeal to the RBI for repatriation of funds...
I was also advised not to put ANY money into long term or fixed rate accounts and to keep any interest earned below 10,000Rs per fiscal year as this would arose suspicion..."

jcbrum

I have to submit my KYC forms next week into our local HDFC bank,so i'll ask the question when i'm there.

John

noni

[QUOTE=Return of Santan;10782743]Hi,

I am just back from a stress free holiday in civilised Canada and found this worrying post on the freezing of foreigner bank accounts, does anyone know if this ruling is now applicable to ALL Indian banks ? Below is my quote to Pengha from a previous thread on the subject "bank account if no longer resident" #10 . 04/13

Has anyone had any notification from the B.O.B ?

Thanks

RofS
[COLOR="DarkOrchid"]


Welcome back - see my post No.32 from an Axis Manager. Will be all banks when they get around to it.

hemingway

Noni,

Did you receive the notification in the form of a letter to your UK address?

Just wondering how I will receive my notification, that's all.

H.

noni

Hi Hem - I had an email from the bank.

johnny five

In view of the now "many" examples quoted on here in the last few days, along with my frequent quotes of THE ACTUAL BLOODY REGULATIONS........ (niggled at/qualified by Andy, of course)

Why exactly should the Bank of Baroda (for the benefit of those not into code breaking) be an exception?

Shit was always going to happen, and now it is.


.

noni

and we can't say you didn't warn us.

GermanFool

Unfortunately, I have to say I am not surprised by this at all.
I'm just glad I followed my inner voice back in February and closed all my personal accounts.
Can't say I've seen it coming, but I'm happy I've listened to my gut feeling.

Just when you think things might get better, there's always a new curveball thrown at us.
I really hope all of you affected by this will be able to sort it all out for good.
Of course, it (again) means hassle, and is about as useful as a hole in the head...

poipleshadow

I do feel for you all, they do like making things complicated. A greater notice peroid would have been nice, at the very least. I think I should be safe (for now) as I am a resident and also not on a tourist visa so crossed fingers. It's strange that I hadn't used my account for the last 8 years or so and a few months ago decided that I wanted to bring it out of dormancy as the exchange rate had improved, so I did the whole KYC thing and now have an international debit card so I hope if the worst happens I can at least remove the money via cash machines. I might pay them a visit and verify too (just in case)