Banking / Finance Matters

We offer our clients a complete suite of services relating to their banking, investments in equities, investments in various Government of India bonds (National Saving Certificates, Indira Vikas Patra, Kisan Vikas Patra to name a few) and savings held with Post Offices in India. With A&K’s or people of the Indian diaspora living abroad, one of the biggest headaches that has emerged over time is to handle requirements related to these funds held in banks or investments in various types of instruments illustrated above.

These movable assets are typically held by A&K’s themselves or their parents and in many cases even by their grandparents. Most of these funds are held in banks or instruments that have been held for long periods of time and can be termed as legacy funds/savings. Such funds held in legacy accounts or instruments have not been kept operational and upto date. A&Ks ultimately want to access these funds and use repatriation services to take these funds back to their country of residence.

Coupled with the above realities, the liberalisation and rapid digitisation of the Indian economy over the last many years has led to a rapid evolution of rules and statutes governing such bank accounts/bonds/equities/savings in any other forms in India. India has now caught up with the latest best practices prevalent globally and the requirements involved in keeping such accounts/investments operational and upto date. This has resulted in these funds/investments becoming dormant or getting frozen and thereby making them inaccessible for A&K’s or the legal heirs of the original investee/account holders.

Our banking, financial and repatriation services helps overcome the issues enunciated above in an end to end manner with 360-degree closure loop.

Some of the key services we offer are:

  • Activation of Dormant Bank Accounts.
  • Complete assistance for clients to acquire all mandatory paperwork and ID’s without which no financial transaction can be concluded, such as PAN Card.
  • Opening of new Bank Accounts as per the status of the client – such as NRE or NRO accounts.
  • Activation and retrieval of funds held in Accounts that are non-operational for more than 10 years, which are termed as D.E.A.F (Depositor Education & Awareness Fund) accounts and the funds are moved from the Bank to Reserve Bank of India.
  • Completion of all Know Your Customer (KYC) requirements with regards to Bank accounts/Equities/Bonds/Post Office Accounts.
  • Conversion of equities held in physical form into Demat form, along with opening of a Demat account and regularising of Bank Account linked to Demat accounts.
  • Complete suite of repatriation services to repatriate funds held in Bank Accounts/Demat Accounts/Post Office, to the country of residence of our client with full compliance of all Government of India rules and regulations.