SBNRI Unveils App to Meet Banking and Investment Needs of NRIs
SBNRI, a platform for managing the banking, investment and tax needs of Non-Resident Indians (NRIs), said it introduced an app for the convenience of its target group.
“India offers huge investment opportunities for NRIs, but the lack of transparency, knowledge and time zone differences make it harder for them to get accurate information on financial assets,” Mudit said. Vijayvergiya, founder of SBNRI.
The entity was created to solve the problems faced by NRIs in accessing banking and investment opportunities in India.
The SBNRI said it had done a solid groundwork in assimilating multiple touchpoints and simplifying it for an NRI as a one-stop-shop assistant. To do this, it had linked up with banks, investment platforms and service platforms specialized in NRIs.
“Distribution was a major challenge in the business and it has been resolved over the past year,” Mr. Vijayvergiya said. From opening an NRO (non-resident ordinary) account to NRIs to manage and maintain their income earned in India in rupees such as rent, dividends and pension, the platform also offers a non-resident external account (NRE) to help NRIs transfer their income earned in a foreign country to India. It also provides access to investments in more than seven asset classes, including traditional and new investment options, he said.