What is the procedure for withdrawal of security deposited by an emigrant?

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An emigrant is entitled to withdraw the security deposit after lapse of a period of three years from the date of deposit. The emigrant is required to personally present his/her passport and the used ticket along with the Bank Receipt to the POE concerned. The deposit can be withdrawn from the Bank after taking approval… Read more »

What are the prohibited activities for overseas direct investment?

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Real estate as defined in Regulation 2(p) of the Notification and banking business are the prohibited sectors for overseas direct investment. However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI. An overseas… Read more »

Who are eligible to make overseas direct investment under the Automatic Route? Who is an “Indian Party”?

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An Indian Party is eligible to make overseas direct investment under the Automatic Route. An Indian Party is a company incorporated in India or a body created under an Act of Parliament or a partnership firm registered under the Indian Partnership Act 1932 or a Limited Liability Partnership (LLP) incorporated under the LLP Act, 2008… Read more »

What is direct investment outside India?

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Unskilled workers and a household service workers seeking employment abroad should furnish (in original) the following documents at the time of obtaining emigration clearance: Passport valid for a minimum period of six months Valid employment visa. Employment contract signed by the foreign employer and duly attested by the Indian Mission or permission letter from the… Read more »

On what grounds can an application for emigration clearance be rejected?

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Subject to other provisions of the Emigration Act 1983, the PoE may reject an application for emigration clearance on any one or more of the following grounds: That the terms and conditions of employment which the applicant proposes to take up are discriminatory or exploitative. That the employment which the applicant proposes to take up… Read more »

What premium is to be paid by the worker for the PBBY?

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The insurance company charges fair and reasonable premium (about Rs. 275 and Rs. 375 for policy periods of 2 and 3 years respectively). Taxes are charged as applicable. The Government has also stipulated that an emigrant can select a company of his/her choice for the insurance cover. In an effort to further safeguard the interests… Read more »

What are the medical benefits that are offered by the PBBY?

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PBBY stands for Pravasi Bharatiya Bima Yojana. PBBY offers the following medical benefits to the insured person and his/her dependants – The insured person is reimbursed actual one-way economy class airfare by the insurance company, if he falls sick or is declared medically unfit to commence or continue working and the service contract is terminated by the… Read more »

What are the other salient features of Pravasi Bharatiya Bima Yojana?

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In an effort to further safeguard the interests of emigrant workers from India, the Government of India has introduced the Pravasi Bharatiya Bima Yojana (PBBY), an insurance scheme compulsory for all workers going abroad on ECR passports (except to countries for which emigration check is not required) for employment. It was during the Pravasi Bharatiya… Read more »

What is Pravasi Bharatiya Bima Yojana?

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Pravasi Bharatiya Bima Yojana : In an effort to further safeguard the interests of emigrant workers from India, the Government of India has introduced the Pravasi Bharatiya Bima Yojana (PBBY), an insurance scheme compulsory for all workers going abroad on ECR passports (except to countries for which emigration check is not required) for employment. It… Read more »