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Pak Hindu migrants may get permission to open bank account in India

New Delhi: The Narendra Modi government is working towards restoring the dignity of Hindu migrants from Pakistan to India.According to a report published in The Economic Times , Hindu migrants who are here on longterm

India TV News Desk [ Updated: July 15, 2015 13:32 IST ]
pak hindu migrants may get permission to open bank account
pak hindu migrants may get permission to open bank account in india

New Delhi: The Narendra Modi government is working towards restoring the dignity of Hindu migrants from Pakistan to India.

According to a report published in The Economic Times , Hindu migrants who are here on longterm visas, may soon be allowed to open bank accounts and buy residential properties.  

ET reported that once this becomes policy, Hindu migrants will be able to open bank accounts on the basis of their visa and residential permits issued by the Foreigner Registration Office (FRO) or the Foreigner Regional Registration Office (FRRO).

This initiative to integrate them with India's economic system even without Indian citizenship is part of his election campaign promise. The then prime ministerial candidate, Modi, had said that 'we have a responsibility toward Hindus who are harassed and suffer in other countries ...India is the only place for them'.

The Reserve Bank of India (RBI) has already given its nod to allow such people to open bank account and purchase property.

The government, they said, may also allow Hindu migrants from Pakistan to open non-resident ordinary (NRO) rupee account without RBI approvals.

At present, a non-resident ordinary (NRO) account can be opened with banks and authorised dealers by anyone residing outside India but in case of Pakistani nationals and entities as well as Bangladeshi entities, RBI approval is required.

Banks will also have to submit quarterly reports to the Ministry of Home Affairs on accounts of Pakistani Hindus in India.

It should also be noted that the present coalition has been active on granting citizenship to Hindus from Pakistan and Afghanistan as well. In last one year, the government granted citizenship to over 4,000 Hindus from these two South Asian countries. The number is four times more than the UPA-II government.

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