SBNRI, a platform for managing the banking, investment and taxation needs of non-resident Indians (NRIs), said it had introduced an app for the convenience of its target group.
“India offers huge investment opportunities for NRIs, but lack of transparency, knowledge and differences in time zones makes it more challenging for them to gain accurate information about financial assets,” said Mudit Vijayvergiya, founder, SBNRI.
The entity was set up to solve the problems faced by NRIs in accessing banking and investment opportunities in India.
SBNRI said it had done strong groundwork in assimilating multiple touchpoints and simplifying it for an NRI as a one-stop assistant. To enable this, it had tied up with banks, investment platforms and service platforms specialising on NRIs.
“Distribution was a major challenge in the business and this has been solved in the past year,” said Mr. Vijayvergiya. From opening of NRO (non-resident ordinary) account for NRIs to manage and maintain their income earned in India in rupee such as rent, dividends and pension, the platform also offers non-resident external (NRE) account to help NRIs to transfer their income received in a foreign country to India. It also provides access to investments in more than seven asset classes, including both traditional and new-age investment options, he said.
