Nationalised banks declare attractive schemes to lure PIOs, NRIs

New Delhi, Jan 9 (ANI): The nationalised banks, which participated in the three-day Indian Diaspora Convention held here introduced new deposit schemes for the people of Indian origin (PIOs) and non-resident Indians (NRIs).

P Pal, an official of a nationalised bank, said that these schemes are introduced to make banking easy by NRIs and to help them manage their money as per the market trends.

"See, we have mostly deposit schemes for NRI, we keep deposits in foreign currency also as well as in Indian rupees also. So, there are a lot of schemes we have and those schemes are in good currencies also in different currencies. So, basically the foreign deposits we keep in FCNB (Foreign Currency Non Resident Bank) and NRI saving deposits, fixed deposits and NRIs also." he said.

"The loan scheme and investment avenues are other areas where more attractive schemes are on the anvil," he added.

Zeena Kaul, Chief Manager, International Banking Section of Punjab National Bank, said that most of the NRIs are not aware of the remittance facilities provided by the nationalised banks.

"Mostly people are not aware of so many products that we have and how we can do, so most of them are doing through, say other money remittance scheme, Western Union or this that. They don't know that even the nationalised banks and other banks are also doing the same," he said.

"So, we are trying to give them insight into how they can do it, how smoothly we can facilitate these things, so, that more remittances can come smoothly," noted Kaul.

About 1,500 overseas delegates and all the Chief Ministers of northeastern states attended the three-day conclave that witnessed 'curtains up' on Friday although Prime Minister Dr. anmohan Singh formally declared it open the next day. (ANI)