NRI Top Stories ( Page 30 of 32 )

TANA announces Short film contest February 23, 2012 13:53

TANA (Telugu Association of North America) is conducting a Short Film contest to promote and perpetuate Telugu, our mother tongue. It was announced by TANA president Prasad Thotakura and 19th TANA Convention Coordinator Murali Vennam in a press release on Tuesday. The contest is being held on the eve of International Mother Language Day, they said. It is very important for all of us to remind ourselves how to save our great language from the current waning stage. International Mother Language Day is annually celebrated on February 21st around the world. The main objective of this observance is to promote linguistic and cultural diversity and multilingualism. Telugu People across the globe can participate in this competition. TANA solicit films made up to a maximum of five minutes focusing on the current status of usage of Telugu Language and its future. The content of the film should be message /solution oriented. The concept is ‘Mana Telugu bhashanu brathikinchu kundam’ said Prasad Thotakura. Participants can contest by emailing their videos as YouTube film links. There is no entry-fee. A panel of judges chaired by renowned movie director Sekhar Kammula will judge the best entrees. Best selected films will be screened at the upcoming 19th TANA Convention to be held at Dallas Convention Center in Dallas, Texas from July 4th ‘ 6th, 2013 and also winners will be awarded on the main stage. More information on rules and regulations will be announced soon. Please visit www.tana.org periodically or email us at This email address is being protected from spambots. You need JavaScript enabled to view it. // if you have any questions.

India heads US party's state finance panel February 23, 2012 11:25

Akshay Desai, who studied medicine in India, has been made the chief of the Republican Party of Florida's finance committee. "...I am grateful that Desai has agreed to accept this crucial role," said RPOF's chairperson Lenny Curry. "In this election year, we need the resources for victory, and Desai's long history of work for the state and our party make him a proven leader. A.K. and I are ready to roll up our sleeves and win," a statement quoted Curry as saying. Desai has been a member of the Florida State Board of Education since 2007. He received his medical degree in India, and earned his Master's in Public Health Administrative Medicine from the George Washington University. Desai is currently president and CEO of Universal Health Care Group, which he founded in 2002, and serves the health care community through several associations. He previously served as commissioner and chairman of the Health Committee on the White House Commission on Asian Americans & Pacific Islanders 2005-08.

International Interfaith Harmony award for Yusuf Ali February 15, 2012 12:19

NRI business magnate M A Yusuf Ali has been selected for the prestigious Interfaith Harmony Award specially endowed with United Nations’ Interfaith Harmony Week initiatives and observations. Ali is one of Kerala’s most popular ambassador in the Middle-East on account of his hugely successful business empire and he has been credited with swinging the much-hyped Rs.1,500 crore mega Smart City Kochi IT project being built by Smart City Dubai, in favour of Kerala, when it appeared lost due to differences between the previous Left government and the Dubai promoter. The International Interfaith Harmony Week, United Nations initiative, seeks to spread the message of harmony and tolerance among the followers of religions, faiths and beliefs. The award will be presented to Ali March 1 at the International Seminar on Interfaith Harmony and Tolerance held in the International Islamic University Malaysia, Gombak campus at Kuala Lumpur. This award is the prime attraction of the International Seminar on Interfaith Harmony and Tolerance which is jointly organised by International Islamic University, Malaysia and the Kerala-based Madin Islamic Academy. In a press release issued here Tuesday, the Madin Islamic Academy said the jury commended Ali as the fittest for this award after considering his social commitments. “He is the unique one even in the business world, where 27,000 people work together without any discrimination of religion, caste, creed and nationality,” noted the jury. The World Interfaith Harmony Week was first proposed at the UN General Assembly Sep 23, 2010 by King Abdullah II of Jordan. On Oct 20, 2010, it was unanimously adopted by the UN and the first week of February will be observed as a World Interfaith Harmony Week.

NRI scientist invents device for diabetic treatment February 10, 2012 17:44

Dr. Kumar, a medical doctor hailing from Chittoor district of Andhra Pradesh has done thorough research on diabetics and developed technology to identify diabetic neuropathy. Jairaj Kumar, an NRI Indian scientist has come up with a diagnostic device, Diasense, which proves to be a great advantage in the treatment of diabetics. The device is capable enough to identify if there are any hidden chances of danger due to the disease. The Central Government offered a helping hand by funding the project, as they understood the importance and potential of the device. The project will be funded through Technology Development Board, which is under the Ministry of Science and Technology. The complications arising as a result of diabetics can be prevented with the help of this device, as it enables the screening of individuals. Diasense is very sensitive and can identify changes even in short intervals of time. As a result major or minor downfall and reversal of the situation can be detected. Dr. Kumar, a medical doctor hailing from Chittoor district of Andhra Pradesh has done thorough research on diabetics and developed technology to identify diabetic neuropathy. He has been honoured with many awards such as Phillips Best Inventor Award in the year 2009, DST-Lockheed Martin Gold Medal in 2010 and Best Medical Electronics Product of the year 2011, USA. He has also come up with more than 50 international research papers and has filed more than 13 patents.

Hight Court slaps Rs.20,000 fine on NRI January 31, 2012 13:39

Abusing the process of law by questioning investigating agencies and maligning the judiciary has cost a non-resident Indian (NRI) Rs.20,000. The Delhi High Court order came on a plea of NRI N.S. Hoon seeking compensation of Rs.5,000 crore from the Central Bureau of Investigation (CBI) for allegedly implicating him in a criminal case. He sought action against the erring officials of CBI for harassing him for 25 years. Justice M.L. Mehta said: “In the present petition, not only the CBI and police are questioned but even the judiciary and the government are sought to be maligned in a highly derogatory and utterly contemptuous manner. The unparliamentary language used by the petitioner is evident by words like ‘slave magistrate’, ‘obliging judge’, ‘corrupt CBI’.” The court said that such petitions were nothing but a waste of precious judicial time and mockery of the legal process. “The conduct of the petitioner is highly condemnable and deserves no consideration even due to his age as he has unabatedly abused the process of law in intimidating and obstructing public officials from discharging their duties,” the court said. Hoon, who had acquired British citizenship, had argued that the officers of CBI acted against him at the instance of some influential people and they should be prosecuted under law. He claimed to have undergone mental agony and physical suffering in the past 25 years and sought financial compensation. “I was arrested on May 14, 1987 despite an anticipatory bail order from the Delhi High Court. They seized my passport for such a long time causing huge losses to my business abroad,” Hoon said. He added even the trial court had acquitted him from all the charges under the Foreigners Act. According to the CBI, Hoon concealed his identity as a British citizen during his stay in two different hotels, in 1986-87, which was a criminal offence. The CBI alleged that during his stay in Delhi’s Ambassador Hotel, the petitioner paid the hotel tariff in rupees whereas he should have paid in British pounds. Similarly, he stayed at an hotel in Jaipur and paid Rs.8,000 in Indian currency. Justice Mehta called the petitioner a “chronic litigant” who filed cases against the authorities whenever any step was taken against him due to his activities which were contrary to law.

Aneesh Chopra, Obama's Indian American IT head, quits January 30, 2012 09:38

Aneesh Chopra, President Barack Obama's information technology honcho, who was the highest ranking Indian American in the Obama administration, is leaving the White House, apparently to try his hand at politics. Announcing the departure of Chopra, Assistant to the President and the federal government's first Chief Technology Officer (CTO), Obama said "Chopra did groundbreaking work to bring our government into the 21st century. "Aneesh found countless ways to engage the American people using technology, from electronic health records for veterans, to expanding access to broadband for rural communities, to modernizing government records." "His legacy of leadership and innovation will benefit Americans for years to come, and I thank him for his outstanding service." While the official announcement gave no reason for Chopra's resignation from White House, the Washington Post citing unnamed Democrats said he is widely expected to announce that he will run for lieutenant governor in Virginia. Chopra has flirted with running for statewide office in Virginia for years, building up support among Democratic activists and serving on Obama's transition team in 2008, it said. The timing of his resignation allows Chopra to campaign this year for his two former bosses: former governor Tim Kaine, who is running to replace retiring Senator James Webb this year; and Obama, who will face a tough fight in the swing state of Virginia. He is expected to attend Virginia Democrats' biggest fundraiser of the year, the Jefferson-Jackson dinner, Feb 11 in Richmond, where those who are looking to run statewide host parties and mingle with more than 1,500 activists, the Post said. The eldest son of Indian immigrants, Chopra, 40, was sworn in into his White House job on May 22, 2009 after serving as Secretary of Technology for the Commonwealth of Virginia from January 2006 to April 2009. He previously served as Managing Director with the Advisory Board Company, a publicly-traded healthcare think tank. Chopra was named to Government Technology magazine's Top 25 in their Doers, Dreamers, and Drivers issue in 2008. Aneesh Chopra received his BA from The Johns Hopkins University and his MPP from Harvard's Kennedy School.

8 people of Indian origin in Padma list January 27, 2012 09:23

Ten people of Indian origin and foreigners have been awarded India's prestigious Padma awards announced on Wednesday. While seven have got the Padma Bhushan, three are listed for the Padma Shri. Amongst the eminent NRIs getting the Padma Bhushan are sculptor Anish Kapoor (Britain) and judge PC Rao (Germany). The list also includes four people in the literature and education category -- Vidya Dehejia, Arvind Panagariya and Jose Pereira from the US and Homi K Bhabha from Britain. Also in the Padma Bhushan is George Yong-Boon Yeo, Singapore's former Foreign Affairs Minister. Another Singaporean, Gopinath Pillai, is slated to get the Padma Shri in the trade and industry category.Shoji Shiba from Japan (trade and industry) and US-based professor Jagadish Shukla (science and engineering) are also in the list.

Biomass for Energy Security and Empowerment of Rural India January 09, 2012 12:28

Pravasi Bharatiya Divas (PBD) 2012 organized jointly by Ministry of Overseas Indian Affairs (Government of India), Government of Rajasthan and Confederation of Indian Industry (CII) at Jaipur saw an interesting session on “Enhancing Rural Energy Access”. The Session focused primarily on outlining possible opportunities for NRIs to invest in solutions / initiatives to meet the basic energy requirements of rural India. Biomass was highlighted as the most promising solution. Biomass is expected to constitute almost 70% of household energy source as early as 2030. Its primary advantages include its abundant availability, its renewable nature, has a built in energy storage like fossil fuel and needs no conversion to produce energy. In addition rural communities have a high comfort level with it due to the familiarity with its raw material. The use of gas derived from gasification of biomass as a fuel is hampered by its lower energy density requiring larger flows of gas, but it is still the next best source of energy after electricity. The post-independence model of large centralized power generations systems have their limitations. De-centralised, local power generation systems managed by the community itself are the way forward. Even where rural electrification has been achieved, availability of power is still an issue as rural areas bear the brunt of the power shortages. The session was Chaired by Mr Deepak Gupta, Former Secretary, Ministry of New & Renewable Energy, Government of India. Mr K Krishan, Chairman, CII Task Force on Bio-Energy & Chairman, MPPPL Renewable Energy outlined the various modes available for NRIs to safely invest in various projects including rural electrification through due diligence provided by IDF, CII and CREWA The session also featured Technology and Business Model presentations on Rural Energy Projects. Dr B C Jain, MD, Ankur Scientific Energy Technologies supported the generation of power derived from biomass at the village level. He expressed that energy from biomass would generate employment, carbon credits and most of all would lead to empowerment of rural areas when connected to the grid. Mr Sanjay Kahzanchi, Consultant, Rockfeller Foundation, shared the unique features of the Smart Power for Environmentally Sound Economic Development (SPEED) programme, which supports the setting up of rural electrification projects through a unique business model. Environmental and social advantages of using pine needles as a biomass source were highlighted through a presentation by Mr Rajnish Jain, Avani. Mr Gyanesh Pandey, Co-Founder, CEO & CTO, Husk Power Systems outlined the models employed by his firm in Bihar with case study examples. Ms Swati Bhogle, Secretary, TIDE, Bangalore discussed the model specifically developed by her organization for research into smokeless Commercial Cook Stoves.

10th Pravasi Bharatiya Divas to be Held in Jaipur January 03, 2012 15:07

The 10th Pravasi Bharatiya Divas (PBD) will be held from 7-9 January, 2012 in Jaipur. Addressing a press conference here today, Shri Vayalar Ravi, the Minister of Overseas Indian Affairs and Civil Aviation announced that the Chief Guest of PBD-2012 will be the Prime Minister of Trinidad and Tobago, Ms. Kamla Persad Bissessar. The theme of PBD-2012 is “Global Indian-Inclusive Growth”. He further said that Rajasthan will be the partner State of the 10th PBD, which would provide the Diaspora an opportunity to understand the vibrant culture and potential of State. Shri Ravi said that Prime Minister Dr. Manmohan Singh will inaugurate this annual flagship event of the Ministry on January 8, and the President Smt. Pratibha Devisingh Patil will deliver the valedictory address on January 9 and confer the Pravasi Bhartiya Samman Awards. He also informed that two pre-conference seminars on ‘Solar Energy- Investment’ and R&D’ and ‘Social Entrepreneurship-Water’ will also be organized during the event. The Minister said that more than 1500 delegates are expected to participate in PBD-2012 from all over the world. He said that Government is making efforts to make PBD more meaningful and interactive event that would address issues and concerns of the overseas Indian community effectively. He also announced that the event would be webcast online and summary of proceedings put out each day. The interactive website would provide an opportunity for the Diaspora to participate in the conference from any corner of the world. On the occasion, he also launched the PBD website- www.pbdindia.org. Speaking in the conference, Shri Rajendra Pareek the Minister of Industries, NRI’s, and State Enterprises of Rajasthan said that Pravasi Bharatiya Divas is an efforts to bring Indian Diaspora on one forum, which expresses the concept of Vasudhaiva Kutumbakam. He also extended all kind of support and cooperation from Rajasthan Government to make the 10th PBD successful. Dr. A. Didar Singh, Secretary, MOIA & Mr Chandrajit Banerjee, Director General, CII were also present on the occasion. The 10th Pravasi Bharatiya Divas (PBD) will be held from 7-9 January, 2012 in Jaipur. Addressing a press conference here today, Shri Vayalar Ravi, the Minister of Overseas Indian Affairs and Civil Aviation announced that the Chief Guest of PBD-2012 will be the Prime Minister of Trinidad and Tobago, Ms. Kamla Persad Bissessar. The theme of PBD-2012 is “Global Indian-Inclusive Growth”. He further said that Rajasthan will be the partner State of the 10th PBD, which would provide the Diaspora an opportunity to understand the vibrant culture and potential of State. Shri Ravi said that Prime Minister Dr. Manmohan Singh will inaugurate this annual flagship event of the Ministry on January 8, and the President Smt. Pratibha Devisingh Patil will deliver the valedictory address on January 9 and confer the Pravasi Bhartiya Samman Awards. He also informed that two pre-conference seminars on ‘Solar Energy- Investment’ and R&D’ and ‘Social Entrepreneurship-Water’ will also be organized during the event. The Minister said that more than 1500 delegates are expected to participate in PBD-2012 from all over the world. He said that Government is making efforts to make PBD more meaningful and interactive event that would address issues and concerns of the overseas Indian community effectively. He also announced that the event would be webcast online and summary of proceedings put out each day. The interactive website would provide an opportunity for the Diaspora to participate in the conference from any corner of the world. On the occasion, he also launched the PBD website- www.pbdindia.org. Speaking in the conference, Shri Rajendra Pareek the Minister of Industries, NRI’s, and State Enterprises of Rajasthan said that Pravasi Bharatiya Divas is an efforts to bring Indian Diaspora on one forum, which expresses the concept of Vasudhaiva Kutumbakam. He also extended all kind of support and cooperation from Rajasthan Government to make the 10th PBD successful. Dr. A. Didar Singh, Secretary, MOIA & Mr Chandrajit Banerjee, Director General, CII were also present on the occasion.

U.S. Call Center Bill worries Indian BPOs December 23, 2011 19:44

India is currently going through a phase of challenges. Inflation, economic slowdown, rupee depreciation and now adding to the pressure, is the U.S. Federal bill for call centers. A major chunk of India's revenue comes from the IT -BPO Industry and a bill to cut back its growth is a serious concern for the Indian IT industry. However, many such bills had been proposed by U.S. in the past as well. But it hardly sparked any fear then. Industry experts say, it is just another bill to add to the list of the previous ones but this time it is come with a warning. On December 7, Rep Timothy Bishop and three others introduced the U.S. Call Center Worker and Consumer Protection Act which seeks "to bar corporations that sent U.S. call center jobs overseas from receiving federal grants and loans," the solon said in a statement. Genpact, one of the top 10 BPOs in India said that it was in tune with NASSCOM and NASSCOM had stated that "We have seen attempts to present such bills in the past. However, the bill has only been introduced in the House, there is a long way for this to become legislation and for it to become law the possibility is very low. But it indicates the mindset of a certain set of policymakers and could set the tone for the next year, especially it being an election year.""It is indeed disappointing to see U.S. adopting 'protectionist' measures like these that restrict free trade and are discriminatory trade practices. U.S. lawmakers seem to have developed the practice of unfairly taxing companies working overseas, to pay for domestic issues. In case this bill is passed, not only will it see objection from India but Latin America, Ireland, Philippines and Canada. Companies operating on a global sourcing model, building efficiencies, benefits of this get passed to the common citizen. Laws such as these will increase the cost of service and will see a rejection from common citizens." Keshav R. Murugesh, Group CEO, WNS said, "WNS has a diversified portfolio of clients that are located across the globe. In addition, WNS, being a global player, has been aggressively ramping up and opening delivery centers all around the world in order to mitigate the risks from legislation that could affect location of clients / delivery centers in a single country. WNS has also been evaluating opening of a delivery center in the United States to cater to the onshore outsourcing requirements of its clients. Notwithstanding the above, we believe that legislations such as the one recently introduced, could ultimately impact the competitiveness of American businesses." Mphasis Spokesperson said "The new U.S. Bill seems to be a protectionist bill in with a view of the upcoming U.S. Presidential elections. At Mphasis we do not see an immediate impact in the near term. We will respond as more details emerge." Home grown outsourcing companies like TCS, Infosys and Wipro have laid their foot print across the globe for servicing and many small startups are following their footsteps. The Indian IT Industry has given thumbs down for the U.S. call center bill. Presently the Indian BPO is coping as the slowdown in U.S. market is curbing its growth. "Most of the BPOs do not take any federal loans or aid. So I don't think this would create an impact on the industry," said S Nagarajan, Founder and Chief People Officer 24/7 Customer.

Indian Banks Hike Rates to Lure NRI Deposits December 22, 2011 12:26

Interest rates paid by Indian banks on NRE savings, term deposits and ordinary non-resident (NRO) savings accounts were deregulated by RBI. As stated by Central Bank, rates on non-resident deposits cannot go higher than the rates paid on term deposits of same maturities. The revised deposit rates are said to be applied only to latest deposits and on renewal of maturing deposits. To strengthen their non-resident bases, mid-size private banks are looking forward to offer higher rates on deposits followed by deregulation of interest rate on these deposits by the Reserve Bank of India (RBI). A rise of 268-324 basis points has been announced by Federal Bank and South Indian Bank in their Non-resident (External) Rupee (NRE) term deposits. Other private banks are expected soon to follow this. An interest of 6.5 percent on NRE term deposits with one year maturity period will be offered by Kochi-based Federal Bank, compared to 3.82 percent previously. On the other hand, South Indian Bank increased NRE deposit rates from 1 to 10 years to 6.75 percent for maturities. Previously, the rate offered on these deposits was 3.51 to 3.82 across maturities. N. Kamakodi, Managing Director and Chief Executive, City Union Bank, said, "We will be increasing our rates in a week's time. The rates would be closer to domestic deposit rates. The rise is most likely to happen in a one-year bracket." Interest rates paid by Indian banks on NRE savings, term deposits and ordinary non-resident (NRO) savings accounts were deregulated by RBI. As stated by Central Bank, rates on non-resident deposits cannot go higher than the rates paid on term deposits of same maturities. The revised deposit rates are said to be applied only to latest deposits and on renewal of maturing deposits. Banks are supposed to offer uniform rates at all their branches. According to the Central Bank, the banks might take approval of their respective boards or asset liability committees, while fixing interest rates on such deposits. External liabilities arising due to deregulation have to be monitored by bank as directed by the banking regulators and asset-liability compatibility from a systemic risk point of view also needs to be ensured. P. R. Somasundaram, Managing Director and Chief Executive of Laxmi Vilas Bank, said, "We have a small base of non-resident deposits right now. But it would be one of our focus areas. We would take a decision on raising rates on these deposits soon. Our asset-liability committee would meet shortly to decide on this." According to Bipin Kabra, Chief Financial Officer, Dhanlaxmi Bank, the deregulation of non-resident deposit rates has allowed banks to attract non-resident Indians to park their deposits with Indian lenders. The bank's asset-liability committee would soon meet to revise the non-resident deposit rates.The state run lenders are unsure about increasing those rates aggressively or not. Having a major foreign presence, Bank of India is still waiting others to revise their rates. A senior official of Bank of Baroda said, "No firm view has been taken so far. I cannot give a timeline as to when these rates will be revised." Officials at State Bank of India are expecting a rise of 200-300 basis points in non-resident deposits rates. They also added that they are yet to decide the effectiveness of rise in rates. Whereas, State Bank of Travancore can increase the deposit rates before SBI does, because the bank is competing hard with mid-sized private banks in Kerela. In a data revealed by RBI, outstanding deposits in NRE accounts stood at $25 billion and NRO accounts stood at $11 billion at the end of October.

RBI frees rates on NRI deposit schemes December 20, 2011 15:20

The Reserve Bank freed interest rates on various non-resident deposit schemes, a move that will help attract more funds from NRIs and arrest the slide in rupee in the forex market. The decision to de-regulate interest rates on such deposits comes within 24 hours of RBI putting restrictions on forward contract in rupee to check speculations in the forex market. The decision will give banks the freedom to fix rates on Non-Resident (External) rupee deposits and Ordinary Non-Resident (NRO) accounts with immediate effect. In a circular, the central bank said: “With a view to providing greater flexibility to banks in mobilising non-resident deposits and also in view of the prevailing market conditions, it has been decided to deregulate interest rates (such accounts).” “Interest rates offered by banks on NRE and NRO deposits cannot be higher than those offered by them on comparable domestic rupee deposits,” it added. The deregulation in rates on NRE and NRO deposits is intended to make such funds more attractive at a time when the rupee has depreciated sharply during last few months.