NRIs warned against taking cash to India

September 6, 2013

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Dubai, Sep 6: The Central Bank of the UAE has asked banks and exchange houses operating in the country to advise their customers travelling to India to abide by the laws on carrying cash to India.

In a notice issued on Tuesday, the Central Bank also asked the banks and money exchangers to warn their customers of the consequences of failing to do so.

“The penalties stipulated in the new law include confiscation of money, prosecution and imprisonment,” the notice said.

It advised the firms that the Indian Central Board of Excise and Customs (CBEC) had implemented a new Law on 22/05/2013, criminalising bringing cash in Indian currency into India.

As per the law, foreign travellers to India are strictly prohibited from carrying cash in Indian currency into India, while Indian nationals are permitted to carry cash not exceeding Rs7,500.

The law also stipulates that all travellers to India must declare all cash in foreign currencies they might be bringing into India, including the UAE dirham, where its value exceeds $5,000. Foreigners should also make a declaration when the aggregate value of all foreign bills in the form of currency notes, financial instruments, travellers’ cheques etc. is equal to or exceeds $10,000, the notice added.

The Central Bank’s move follows another advisory issued by the Indian Embassy in Abu Dhabi in March. The mission advised non-redident Indians staying in the UAE against carrying Indian currency notes when they visit their homeland.

According to the mission, there is a general misconception that NRIs are allowed to carry Indian currency and there had been some instances when NRIs were found carrying large amounts of cash in the form of Indian currency while visiting India and faced problems at the airport.

“In some cases, the currency being carried by NRIs has even been found to be counterfeit,” the Embassy had said.

Its counterpart in Oman had also issued a similar advisory after “cases of counterfeit Indian currency involving Omani visitors” which the mission described as a cause for concern for the Indian government.

When contacted, Indian Ambassador to the UAE M.K. Lokesh denied the Embassy requesting the UAE Central Bank to issue any advisory on the law.

Promoth Manghat, vice-president of global operations at UAE Exchange, confirmed receiving the notice from the Central Bank. “We have already started informing our customers about this law when they come for Indian currency. The new law hasn’t had much of impact in the market.”

A section of the Indian expatriates feels they should also be allowed to carry a minimum amount of cash in Indian currency for emergency use after landing in India. However, officials point out that NRIs can exchange the UAE Dirham or any other foreign currencies with the Indian rupee on arrival in India, where there is a better system to check counterfeit Indian currency.

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News Network
June 9,2024

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Deir al-Balah, Jun 9: At least 274 Palestinians were killed and hundreds more were wounded in the Israeli raid that rescued four hostages held by Hamas, Gaza's Health Ministry said Sunday. 

Hamas fighters chose not to execute the hostages when the Israeli occupation army carried out the complex daytime operation deep inside the territory.

The killing of so many Palestinians, including babies, children and women, in a raid that Israelis celebrated as a stunning success because all four hostages were rescued alive, showed the heavy cost of such operations on top of the already soaring toll of the 8-month-long war ignited by Hamas' October 7 attack.

Scores of hostages are believed to be held in densely populated areas or inside Hamas' labyrinth of tunnels, making rescue attempts extremely complex and risky. A similar raid in February rescued two hostages while leaving 74 Palestinians dead.

The operation deep into Nuseirat, a built-up refugee camp in central Gaza dating back to the 1948 Arab-Israeli war, was the largest rescue since October 7.

So far, the Tel Aviv regime has killed at least 36,801 Palestinians, mostly women and children, and injured 83,680 others in the Gaza Strip. 

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News Network
June 15,2024

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The Abu Dhabi branch of the Indian Institute of Technology-Delhi is set to start its first undergraduate courses in September — a milestone expected to kickstart the school’s further expansion in Gulf Cooperation Council countries.

The Indian Institute of Technology-Delhi is a public engineering institute in the Indian capital, one of 23 IITs operating across the country and offering undergraduate, postgraduate and doctorate-level programs.

Run by the Indian Ministry of Education, it is considered one of the best centers of excellence for training, research and science in India, and is globally ranked 45th in engineering and technology in the QS World University Rankings by Subject 2024.

The institute’s UAE branch is funded by the Abu Dhabi Department of Education based on an agreement with the Indian government signed in July 2023.

Currently hosted by Zayed University, the IIT-Delhi Abu Dhabi started its teaching program in January with a master’s course in energy transition and sustainability, which paved the way for full-fledged operations to be launched in the academic year 2024-25.

“The undergraduate program is a flagship program of the IITs and hence its launch is significant,” Prof. Shantanu Roy, director of the IIT Delhi-Abu Dhabi, told Arab News this week.

“We would like to reach out to international students in the GCC countries. We will also be rolling out our research programs shortly and would like to engage with partners in Abu Dhabi, UAE and the region. IIT-Delhi Abu Dhabi will serve as a meeting point between IIT Delhi and its long 60-plus years legacy in teaching and research, and partners and collaborators in the UAE and neighboring countries.”

The two upcoming undergraduate programs will have a batch of 30 students each. Most of the students will enter based on the institute’s new examination, which the director said was customized for the UAE.

“A significant number of Emirati students have registered ... We see many students in our outreach programs,” Roy said.

“Eleven out of 18 students in our inaugural master’s program in energy transition and sustainability are UAE nationals. They are doing very well, and we are proud of them.”

The offshore campus is a part of the UAE-India comprehensive economic partnership agreement that came into force in May 2022.

The UAE branch is the IIT’s first campus set up abroad.

“The opening of the IIT campus in Abu Dhabi is indeed a significant milestone,” Sunjay Sudhir, Indian ambassador to the UAE told Arab News. “Now, in September, the first bachelor of technology courses in computer science and energy will commence.”

He said that IIT operations would not only strengthen the institute’s global brand, but also Abu Dhabi’s position as a hub for high-tech and innovation.

“The IIT-Delhi campus will be an important part of the innovation ecosystem of this country,” Sudhir said. “We expect a strong linkage between the IIT-Delhi campus and other research teaching establishments and also industries.”

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News Network
June 13,2024

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Kuwaiti authorities have identified the bodies of 45 Indians and three Filipino nationals killed in the tragic fire incident in a building housing foreign workers in the Gulf Kingdom, a top official said on Thursday. Sheikh Fahad Al-Yousuf Al-Sabah was quoted as saying by Arab Times that efforts are still underway to determine the identity of one remaining body.

According to the Department of Non-Resident Keralites Affairs of State of Kerala, the number of people from Kerala who died in the Kuwait fire tragedy has risen to 24. 

The blaze, which started in the kitchen, erupted around 4 am on Wednesday while most of the 195 migrant workers were asleep. The fire incident in southern Kuwait’s Mangaf area claimed 49 lives and injured 50 others.

Meanwhile, an Indian Air Force aircraft is on standby to bring back the mortal remains of Indians killed in the incident. Kuwait’s Foreign Minister Abdullah Ali Al-Yahya assured full support to the Indians affected in the fire and vowed to promptly investigate the tragedy, hours after meeting Minister of State for External Affairs Kirti Vardhan Singh.

Kerala govt to provide Rs 5 lakh

The Kerala government said it will provide Rs 5 lakh financial assistance to the families of the people from the state who died in the Kuwait fire tragedy that claimed 49 lives and left 50 others injured.
The decision was taken at an emergency Cabinet meeting chaired by Chief Minister Pinarayi Vijayan in the morning, a statement issued by his office said. The cabinet also decided to provide Rs 1 lakh financial assistance to those injured in the incident, it said.
The statement also said prominent businessmen M A Yusuff Ali and Ravi Pillai have informed the CM that they will provide Rs 5 lakh and Rs 2 lakh, respectively, to each of the families of the Keralites who died in the fire.

Probe ordered

Emir of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah has ordered a probe into the fire incident at the apartment building, which housed foreign workers with mostly Indians. At least 49 people have died, and the Emir has instructed the officials to investigate the cause of the fire and hold those responsible in the incident as accountable for it.

PM holds meeting

Prime Minister Narendra Modi described the fire incident as "saddening" and held a meeting with external affairs minister S Jaishankar, NSA Ajit Doval, Foreign Secretary Vinay Kwatra, and Principal Secretary to the PM PK Mishra to review the situation. 

The fire in the Al-Mangaf building was reported to authorities in Al-Ahmadi governorate at 4:30 am yesterday, with most of the deaths attributed to smoke inhalation. Kuwaiti media reported that the fire started in a kitchen. Kuwait's interior ministry confirmed that the death toll had reached 49.

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