Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [inr-indian-rupee]

53 questions
16
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4 answers

Do banks give us interest even for the money that we only had briefly in our account?

My father has just deposited ₹95,000 in my savings bank account with Indian Bank that I have to pay as fees to my university. I was thinking of paying the fees 1-2 days later, as I will get interest on the 95 thousand for these days. I know that it…
user14689
9
votes
2 answers

Should I do my budgeting in dollars?

I'm from India and earn in Indian Rupees. Should I do the math on my finances in USD? The reason I ask this question is because INR lost value recently - quite a bit. So, for example, would it be beneficial to have a savings goal in terms of…
Utkarsh Sinha
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8
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2 answers

Should I still pay the minimum amount due even if my outstanding amount is 0?

I'm using an ICICI bank credit card, and there are two amounts of importance that are visible on the online dashboard: Current Outstanding, and Minimum amount due. I did a transaction of Rs. 1500 on a trial plan and got it refunded in 14 days by…
SacredMechanic
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6
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1 answer

What do we mean by Over Payment in Payslip

i just got my salary and noticed that there is deduction of some amount under Over Payment. The salary slip is given in the form of a table. The table has 4 columns and many rows. For the purpose of this question, i am showing one column where the…
Jason
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5
votes
3 answers

Cash out mutual funds or stay invested? Risk aversion choice

I am from India. Stating this upfront to focus on Indian context , while the question is generic in nature and would like to get a wider response By way of background I am in late fifties , retired with no loans or obligations - all basic…
anon
5
votes
2 answers

Filling the W-8BEN Form as an Indian Student

EDIT : So, I also opened a thread in Topcoder's Forum and I filled the "Reference number" field as "-" and in the tax treaty section, I just filled my country and all the other boxes were filled with "-". I've successfully received the full amount.…
Xonshiz
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4
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2 answers

Bank asking first transfer to be a wire transfer to NRE account

I have opened an NRE account with IDFC Bank. They are asking me that my first fund should be transferred directly from my US bank account (possibly through wire transfer). Is there any rule like this by RBI? Any link? IDFC is saying that next…
soham
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4
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4 answers

Fees for using mastercard/Visa card at a place which accepts payment in other currency

I want to know what are the fees involved when we pay online using Visa/MasterCard to a service which accepts payment in some other currency. I have very little knowledge related to this. I am from india and my Visa card is with my bank which…
Baapu Ji
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4
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2 answers

Best way to do savings in India?

I have started to earn a year ago. All my funds are currently in banks. Is there any better way save money than leaving it in a bank account?
soccer7
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4
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Do I pay tax if I convert INR to CAD to use in Canada

If as a Canadian resident, I hold an NRE account with an Indian bank and i transfer money earned in CAD to this account. The I earn interest in rupees and want to transfer back to CAD. The interest is tax free in India for NRE account, but when I…
Victor123
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4
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2 answers

Capitalize on a falling INR

Recently the INR has taken a beating. As an Indian retail investor, is there a way to capitalize on this? Assuming that the person is not in the export business. They are a salaried person earning income in INR.
Victor123
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What is a correspondent bank?

I want to transfer $500 to my son in the USA. I'm using the online Internet facilty of ICICI bank, Hyderabad through the "money2 world" option. In spite of my filling all the details like the account number, swift code, routing number, the address…
Srinivasulu huggahalli
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1 answer

How do resident foreign currency accounts in India work?

I live in India, and I'm considering opening a resident foreign currency account, to receive dollars from outside India. Is the balance (in dollars, say) automatically converted to rupees when I try to: Transfer money to someone using IMPS, RTGS or…
Kartick Vaddadi
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Which is better for USD payment for Indians : Wire Transfer or Cheque?

I am about receive some reimbursement of ~1000 US dollars. I live in India, whose currency is INR. I have the option to receive the money in form or cheque or wire-transfer. Which of the two mode of payments should I chose for maximum benefit ? PS:…
user44712
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Do I have to pay tax on hand-money(USD) which I brought from US to india?

I am not getting answer of this very normal question on the internet. I was working in the US as salaried employee and as per day count I was NRI for rear 2013 and 2014, and I paid full tax on all income I earned in US and filed Tax return. While…
codenext
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