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What is NRI
- Banking?
With a
view to attract the savings and other remittance into India through banking
channels from the person of Indian Nationality/Origin who are residing abroad
and bolster the balance of payment position, the Government of India introduced
in 1970 Non-Resident(External) Account Rules which are governed by Exchange
Control Regulations.
The funds
held in Non-Resident (External) Accounts (NRE Accounts) qualify for certain
benefits like exemptions from taxes in India, free reatriation facitities, etc.
Pentasoft
has a special offer for Banks to render best services to their NRI
customers.Pentasoft's NRI -Banking is a complete and integrated solution
fully equipped to meet the challenges of the current & future Banking
requirements of Non Resident Indians.
Deposit
Types
NRI-Banking
facilitates the NRI customer to open the following account types.
| NRE
|
(Non Resident External Accounts)
In can be in the form of Savings,Current or fixed deposits in Indian rupees.The
funds in this account are fully repatriable.
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| |
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| NRO |
(Non Resident Ordinary Accounts)
It can be in the form of Savings, Current or Fixed Deposits in Indian
Rupees.The funds in this account are not repatriable (only interest accrued is
repatriable).
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| |
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| FCNR |
( Foreign Currency Non Resident Accounts)
It can be in the form of fixed Deposits only,in the five major currencies
,namely US Dollars,GBP,DM,Euro,Japanese Yen.The funds in this account are fully
Repatriable |
Key Benifits:
NRI-Banking
follows a modular structure.The various modules render our NRI-Banking solution
offerings (which are stated below) in a seamlessly integrated fashion .
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The Masters module permits maximum parameterization to be
done,enabling the end user to make all changes with regard to Interest Rates or
with regard to any changes as per directives from Head Office / RBI.
-
Maintains Bank,Branch and holiday details
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Facilitates maintenance of Instrument,Interest rate and
Overdue interest rate details Masters.
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Inventry,Currency,Country,Exchange rate and return reason
details are also maintained
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Favors opening,authorization and freezing of Accounts
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Transaction entry and passing is made easy
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Provisions availed for issuing,passing and stop payment of
cheques.
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Supports Account closure,Preclosure,Renewal & overdue
renewal of Deposits.
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Aids Day Begin, Day End & Month End Processing
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Processes Quarterly, transfer to Inoperative & Half
Yearly - SB Interest Calculation.
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Hastens Deposit Receipt Printing, Changing to RFC, Interest
Payment & Overdue Process.
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Supports Acceptance and Execution of standing instruction.
Salient Features:
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Modular Structure
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Maximum Parameterization
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Signature/Photograph Storage & Retrieval
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Credits or debits for group accounts
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Automatic Verification of Signature (optional)
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Structured Design
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Different Levels of Security
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Batch processing of back office operations
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Elimination of redundant effort
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Facility to monitor individual customers and accounts
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Automated Clearing
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Automatic Statutory Reports
System Requirements:
HARDWARE:
| Server |
Client/Node |
| 133 Mhz or Higher Pentium-III |
133 Mhz or Higher Pentium-III |
| 256MB of RAM(64MB minimum supported)
|
128 MB of RAM (32 MB minimum supported) |
| 8.0 GB Hard Disk with 4.0 GB minimum free
Disk space
|
4.0 GB Hard Disk with 2.0 GB minimum free
Disk space |
| VGA or Higher-Resolution monitor
|
VGA or higher-resolution monitor |
| CD-ROM
|
CD-ROM (optional)
|
SOFTWARE:
| Server |
Client/Node |
| Oracle Server |
Oracle Client |
| Windows NT Server |
Windows 98 |
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