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Learn MoreIndian income-tax authorities are sending financial details of NRIs to their respective countries under the information exchange agreements inked by New Delhi with many countries.
Indians settled overseas have collectively pumped in nearly INR600 billion in NRI deposits in India in April- February 2011-12 financial year to take advantage of the higher returns available here. Interest rates of these NRI deposits can be as high as 9.5% in some cases, which yields a handsome tax-free package for investors even after adjusting the rupee depreciation.