Banking
HSBC buys India-based investment manager for $425m
As part of its strategy to become ‘a leading wealth manager in Asia’
Cheque fraud crackdown could cause problems for NRIs
Information must be submitted before it is encashed
NRIs need to approve recurring payments in battle against fraud
They will have to send their banks in India advance notifications or face having transactions cancelled
Nomura carries out wealth management hiring spree
It has appointed over 25 private bankers and investment advisers within its international business
Tax implications for those relinquishing NRI status
They are apprehensive and confused about the frequest changes to various rules