What are your views on 50cr flat bought by Infosys founder?

Digital Trolls are probably referring to articles like these: - Infosys' Narayana Murthy buys luxury flat in Kingfisher Towers for Rs 50 crore - Times of India

Almost everyone—including myself—loves to hate and troll a humble brag. Narayana Murthy and his wife are practically the definition of a humble brag in India. Look no further than the (in)famous Kapil Sharma Show, where their sound bites, meant for entertainment, were heavily trolled for months

https://www.youtube.com/watch?v=1HSsBwAU3KQ

Let’s start with a few facts: while the founders of Infosys are billionaires, the company has created scores of millionaires among its employees. Back in 2003, when I joined Infosys, employees with an "E number" under 2000 were considered VIPs. (My E# was 20K.) These VIPs were literally vested in peace—employees who held onto their ESOPs and stock grants from the 1990s.

And the millions of non-VIP techies? They launched successful global IT careers, thanks to Infosys. Over the years, Infosys has been a bellwether IT services company, paying rich dividends to shareholders. Not much to troll here.

Full disclosure: I too received “a few” ESOPs upon joining Infosys, and these shares, after vesting, continue to provide me with decent taxable dividends year after year.

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Now back to the Trolls

Forget Narayana Murthy’s contributions to offshoring in the 1980s and 1990s that propelled India’s globalization. Instead, we latch onto sound bites like “traveling by economy class” and “70-hour workweek,” which he is most (in)famously known for.

Indians love a good troll session, and the more successful someone is, the easier it becomes for us keyboard warriors to launch off on a tangent.

Make no mistake—this is a mega-billionaire. Narayana Murthy has a net-worth of ₹39,908.06 crore (approximately $4.8 billion). But, of course, he has also offloaded millions of Infosys shares to his wife, son, daughter, and even grandchildren - Millionaire grandchildren! Not just Narayana Murthy's grandson, these Infosys co-founders' grandkids also hold stake in company - Times of India

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A billionaire buying a million-dollar property anywhere in the world wouldn’t make headlines, but this is Narayana Murthy—someone we all love to hate. So troll we must.

But folks, the show is over. The 78-year-old billionarie will retire to his multi-million-dollar penthouse with soundproof windows, beyond our earshot.

Time to move on with our humdrum lives.

Movie Review - Mrs Chatterjee vs Norway

The new movie, out on Netflix, Mrs Chatterjee vs Norway touches on one aspect of Non Resident Indian (NRI) life. Here's a movie review posted by Sujatha (my better half):

A true compelling story about an immigrant mother’s struggle in a foreign land

Mrs Chatterjee vs Norway is a compelling story about an immigrant mother’s struggle to get her two small kids back from the Norwegian Child Welfare Services.

The leading character of Debika is depicted as a vulnerable wife and mom who faces domestic violence  and is blamed and labelled mentally unfit wife and a bad mother who is incompetent of taking care of her own children. The director has taken quite an artistic liberty in portraying the character. Cultural and ethnic differences create problems and play a huge part in the case against Debika. Rani Mukherjee has got into the skin of the character and has done justice to the role by bringing in true emotions and feelings that touches one deep and makes us question how could a whole organization run a racket of separating biological parents from their kids and put them for adoption just to make some money. It feels there is no value for human life. It also shows that a strong willed mother can fight the whole society or the government to get back her children like a lioness fighting for her cubs.

As an NRI wife who has lived and seen the challenges that a new bride faces in a new country I could empathize with Debika’s plight and how Rani vividly brought that to life.

I've been a big fan of Rani Mukherjee and love this character role. It is remarkable to see her transition to the role of a "mom" effortlessly. 

NRI Career question: Is it tough to get a job in India after returning back from abroad with international work experience?

This was a recent question that came to me from an online forum. My response follows

Yes, I won’t sugarcoat it. It is certainly tough if you are job-hunting after returning from abroad with “international work experience.” I say this from my experience after returning back to India (link to another post).

Here’s why it may be “tough” to get a job after returning back, and what you could do

• Sheer population in urban-India with lot more educated and experienced workers looking for better opportunities, and intense competition for high-end (high paying) positions.
• You might over-value your “International work experience,” but recruiters don’t. A lot of Indians, especially in Info-tech sectors have such international experience and you will find it hard to stand out just on that account.
• If you have spent an extended period abroad, you may not have a network of peers in the local market who can make introductions or give referrals to openings
• Ageism - In the west, many professionals continue to be ‘hands on’ even as they gain experience in a field. This is true for hi-tech workers too. However, in India, hi-tech workers get ‘promoted’ to management positions early in their career and those skills are as valued in experienced professionals. If you happen to be a 40-something IT programmer, you will certainly find it hard to find an IT-programming job in India.
• Lot of ‘returning NRIs’ move back as they are unable to accept changes back in India. Employers may be hesitant to hire such NRIs if they are not likely to stick around.

So, what do you do?

• Focus your job search at organizations where you think your specific skills and experience are going to be in demand 
• Revive your network. Use social-media tools like LinkedIn to re-connect with old friends and peers and seek their help in getting you referrals and opportunities
• Don’t downplay your “international experience” but show how this, along with your current skills can help prospective employers 
• If you plan a long-term tenure in India, you should demonstrate such commitment to prospective employers.

You may also check out an earlier blog of mine - Is LinkedIn a useful platform for Job hunting ?

FAQ for NRIs: After being an NRI, what are the major setbacks you are still facing after returning to Bengaluru?

My wife, son and I have US citizenship (and Indian OCI) and we moved back to Bengaluru about two years ago. My dad, who had been diagnosed with prostate cancer a while ago was starting to gradually slow down. My aging parents lived alone in Bangalore, and I got the dreaded phone call from my mother on the verge of breakdown herself, asking for help.

More details about my move and experiences “What were your experiences moving back to India after getting US citizenship? What are the best ways to make this move?”

We had our fair share of setbacks after returning back to Bengaluru after a couple of decades in the west. Here are a few:

• I’ll club the usual suspects - Traffic, pollution and general chaos of the life - in one bucket. This is something I had to work through and accept as a way of life here.
• Bangaloreans have become more parochial and less tolerant of outsiders Refer to the question on Quora “When will outsiders leave Bengaluru?” and my response. Bangaloreans like me who have spent time outside the city and country are likely to feel a bit out of place in the new “Bengaluru”

• Commuting to work is an ordeal and for the average Bangalorean, can range from 1–2 hours each way. I have learnt to cope by taking public transit (Ref my post What is something Indian youth can do to reduce the ever-growing vehicular pollution, after having lost faith that the government will do anything at all?)

• Organic growth of the city - I had grown up and worked in the Bengaluru where people still rode bicycles for short distance commutes. Now Cars, bikes and scooters are much more ubiquitous. After living in the west where zoning laws and regulations are generally respected, it takes a while to accept that such organic, unplanned growth is the way of life.
• Bangalore was known as a Garden city, but there are hardly any private gardens (ref my post - Return to India Musings: when a home becomes a golden egg). Houses that had some patch of greenery or even a few coconut trees are giving way to concrete structures and flats.

As far as the last part of the question goes “Do you regret coming back to your home city and not being able to go back to your desired foreign land?”

I haven’t yet reached the point where the regrets outweigh the decision to move back.

Parking Wars: Residents in the land of Gandhi taking up Gandhigiri ?

People in major urban cities like Bengaluru are on the edge over parking wars. Residents with bikes and cars – which most do find it an excruciating experience driving around neighborhoods looking for parking. Most gated communities and apartments have limited real-estate and deny parking for visitors.

Walking around a side-street in Malleshwaram, a nice old subdivision in Bangalore, I came across the following warning posted ominously on a house’ garage door.

I was both amused and perplexed by the warning message. Parking, especially illegal parking is certainly a nuisance in many neighborhoods, and at times I have had to ‘request’ offenders not to park in front of the gate of our house. However, I wonder if people really willing to take up law into their own hands and be uncivil and rude to their neighbors? 

Citizens are perhaps taking cues from their elected leaders and representatives who are both goading and leading with poor examples. Just a couple of cases that made headlines recently

First, there was the news of Shiv Sena Member of Parliment, Ravindra Gaikwad beatingan Air India staffer with slippers. The intelligence and middle-class were left wondering about Mr Gaikwad’s audacity in refusing to apologize and “demanding” his right to continue to fly Air India. We were also left to wonder about the impotence of fellow parliamentarians and elected representatives who barely uttered a pip against their esteemed colleague.

Just today there was an interesting news (link) of another Minister from Madhya Pradesh gifting bats to 700 brides “to fix drunk hubbie” 

After reading the article, I was left scratching my head over the message to the impressionable brides: expect your hubby to turn out to be a drunkard. So, what happens to the dreams and aspirations with which youngsters tie the knot; or for that matter the silly notion of love when an esteemed minister passes on this message? Speak of starting a new life on a wrong footing.

With such messages coming from representatives, it is not surprising to see the public including denizens of Bangalore taking up arms. Many are showing willingness to be "violent" to protect the land around their property against neighbors and fellow residents who dare to park their vehicles.  

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My earlier blogs on #return2India

• Life lessons on relocating to India: Six lessons from a six year old
• Return to India Musings: when a home becomes a golden egg

Life lessons on relocating to India: Six lessons from a six year old

About a year ago, I was at the crossroads, wondering about work-life decision I had to take. My dad, who had been diagnosed with prostate cancer a while ago was starting to gradually slow down. My aging parents lived alone in Bangalore, and I got the dreaded phone call from my mother on the verge of breakdown herself, asking for help.

After a rushed trip to Bangalore to assess and assist – I arranged for a caregiver to help them at night – I began to reflect on the course of action to take. I was living the American dream thousands of miles away - a well-paying job with a multinational, a cozy house in the suburbs of Anytown, USA and our pesky six-year old enjoying the early years at his elementary school.

 If this were a business decision, a simple SWOT would indicate a rather uncomplicated way forward – delegate and outsource. There exists a mushrooming, albeit unorganized cottage sector in urban Indian cities catering to such demands of Non-Resident Indians (NRIs) with aging parents. With some research, I could easily find a senior-care center or nursing home that would take-in my parents and provide oncology and other day-to-day care in return for an assured sum that I could remit in dollars.

Of course, this wasn’t a simple business-outsourcing decision to abdicate my responsibility, content to monitor Service Level Agreements (SLA) of an impersonal business entity. Also, I had to come to grips with the Indian values I had grown up with: wasn’t I thinking about my parents who nurtured me and made me the man who I am now? Interviews with management gurus and business leaders generally end with a stock question : if there was a chance to relive one decision, I would …. << spend more time with my family or xyz in my personal life etc >> Very rarely it was about a business dilemma. So, here was such a decision waiting to be taken.

One evening while walking around our subdivision with my little Vijay riding along in his bike – he had just graduated from training wheels – I wondered if I was overcomplicating things here. Shouldn’t we just be thinking of this like six-year-old Vijay would? Later that night I began firming up my thoughts with my wife, Suja:

• Keep it simple – the decision weighing on Suja and me was seemingly complex. Do I outsource and delegate the responsibility of elderly-care while remotely monitoring and managing SLAs, or insource myself by relocating to Bangalore and take on the responsibility? Management Guru, Peter Drucker was quoted saying “For every problem there is a solution that is simple, neat—and wrong …. and every solution has an alternative.” In this case, alternatives in front of us include sponsoring a green card for my parents and having them relocate and live with us in the US. Over-thinking problem, solution and alternatives are a recipe for analysis-paralysis too. 
• Think of a simple way forward is something we can learn from a six-year-old. Suja and I had moved and lived across three continents, and we were willing and able to change. 


• Single minded determination – if you have seen a cranky child at a fairground, chances are she wants to go on “that” ride or wants that cotton-candy. Once our mind was made up, Suja and I decided to adopt that simple and single-minded focus. Working off a simple checklist, we began palling and acting on unwinding. 
• There were times of self-doubt and questioning but this is where a child’s dogged persistence comes to play: no time or need for self-doubt. 


• Tell it like you would to a six-year-old  - this is a cliché one often hears in the corporate world while trying to explain a seemingly complex idea or decision. This is easier said than done. However, after our mind was made up, Suja and I had a simple message for our friends and colleagues. Interestingly enough, I began testing this message with our six-year old, who instantly got it. He had already appraised his first-grade teacher of our impending move before Suja and I met her during the PTA.  
• At work too, the message to my manager and HR was simple: I needed to relocate to care for elderly parents, and I was going to make it happen. Negotiations for time off with manager, HR, FMLA applications etc followed, but the message was simple, and to the point. 


• Minimalize and focus – ever seen a six-year-old with a roomful of toys focus quickly on the one toy that is going to engage him? This thinking came really handy while planning and executing our relocation and move. 
• Questions on the impact of relocation on my job and finances and other logistics that could be emotional began to simplify with a lens of minimalism. 


• Don’t carry excess baggage – if you have ever traveled with little ones, they are sure to let you know what is important – it may be that Teddy, Doggie, blanket or favorite pyjamas or the mobile app on the tablet – All else is replaceable and redundant. 
• Keeping this in mind, it was easy enough to decide which of the basic essentials and a few mementoes would be packed and shipped. Much of the furniture and odds-and ends accumulated over the years were posted on Facebook groups for friends and neighbors to pick, while the rest went to Goodwill. 


• Focus on opportunities ahead – a six-year-old with a box-full of Lego blocks doesn’t dread the eclectic colors and shapes, but rather sees a house, car, plane or robot that he can build. Some call it making lemonade when life gives you a lemon, which we forget in our daily grind.
• Moving to Bangalore has helped me reflect on work-life beyond meetings, projects and corporate transformations aspiring to save or make a few million for yet another corporate business unit. 

A Year that was !

Fast forward a year. I have come to appreciate how those diagnosed with terminal illnesses and their caregivers quickly learn to appreciate the glass half-full. Thanks to the “extended family” being around, my parents seem much more relaxed. Little Vijay, now Seven, gets to spend quality time with his grandparents and is learning a couple of Indian languages with his new school pals. As for Suja and me, we are learning to enjoy and re-live a bit of the contemporary Indian-dream; till the winds of change blow our way again.

Q&A: How do I reconcile with the fact that being a Hindu, I ate beef?

How do I reconcile with the fact that being a Hindu, I ate beef?

I was raised in a strict Hindu family where we did not eat meat. I am in North America now and I ate Hamburger while going out with some friends. RiIght now, I feel quite uneasy and am ashamed of myself. How do I get to terms with this thing? Is eating beef while you are away from home normal for Indian Hindu students?

My answer to a recent query online

Thanks for asking. Like you, I too was raised in a Hindu family where we did not eat meat. Although I have lived and worked in a dozen countries, I continue to be a Vegetarian. I have spent nearly half-decade with a multinational Agri-business company. My Musing on Food, Protein and Vegetarianism

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Others have answered this question and have refereed to Vedas, Hindu scriptures etc. Let us set aside religion and scriptures for a minute and focus on personal beliefs and mores, since this is the crux of your question “How do I reconcile with the fact that being a Hindu, I ate beef?”

A simple answer. No, you don’t try and reconcile with the fact.

Have I been in a situation like you? Perhaps, the closest I came to such a “conflict” was during a corporate retreat at a resort in small-town Germany.

(indicative image)

During lunch on the first day, after the first course, I politely informed the Maitre d' of my Vegetarian preference. The Maitre d' returned back after a few minutes - after I had enjoyed the Salad - and politely explained that the salad dressing had Pork extract.

She apologized, and promised that they would arrange for vegetarian alternatives for my dinner and meals during the following days. I thanked her and joked that it would have been better if she hadn’t mentioned the ingredients of the salad dressing to me.

Did I feel “quite uneasy and ashamed of myself.” (quoting you). No, I didn’t have time to think about it that day. But I did reflect on it later; and the fact I am blogging about it means it must be in my subconscious mind.

Back to your questions

• Is eating beef while you are away from home normal for Indian Hindu students?”
• No, it is not the norm though some students might choose to do so. A $1 burger at McDonalds or a beef-burrito at Taco-bell may feel inexpensive compared to a $6.99 buffet at an Indian restaurant.
• How do I get to terms with this thing?
• It’s simple, you don’t try and come to terms with it. Life is too short and there are bigger things to worry about!

Long march towards Digitization and cashless society in India

It has been a little over three weeks since the Indian government took the dramatic step of demonetizing large denomination currency notes – of Rupees 500 and 1000. A lot has been written and debated about the short and long term impact of the Government’s bold move on the lives of a billion Indians.

As an Enterprise Architect of Indian origin, I have been watching the rollout with more than casual interest. There are lessons in the ongoing Indian digitization experiment that technologists around the world can learn from.

The digital payment market in India is at a nascent stage, but nevertheless has a number of domestic and global players, each with millions of users. The market is led by players like PayTM, MobiKwik , Ola Money, Citrus Pay, PayUMoney, ICICI Pockets, Citi Masterpass among others. These Digital payment providers have begun to prepare for wider adoption for the wave following digitization.

The media and technology analysts are also adding a sense of excitement, with articles that proclaim how “India’s Cash Ban Is the Best Thing to Happen to Digital Payments” In this article, the founder of PayTm Vijay Shekhar is quoted saying

“Those fishmongers, vegetable vendors and rickshaw drivers count among the thousands who’ve signed onto India’s largest digital payments service since Prime Minister Narendra Modi triggered a nationwide cash crunch when he scrapped the country’s two largest note denominations.” ( link)

Banks and financial institutions are also looking beyond the short term roadbumps to the long-term opportunities ahead. The front-office bankers gamely took on the challenge of dealing with teeming masses waiting in lines to convert their defunct currency notes. However, banking executives and technologists are already looking ahead. For instance, ICICI, a leading private bank sent a detailed email informing customers of the “state-of-the-art digital channels of internet, mobile banking, Pockets digital wallet and cards,” highlighting services that customers can access via internet and mobile platforms

The enthusiasm among the bankers and digital payment providers and startups is contagious indeed. It is very likely that some of the new, innovative payment modes will lead to evolution in day-to-day financial transactions. The opportunity hinges on leveraging ubiquitous mobile phones in a creative, intuitive and secure manner.

I wonder if it’s too early proclaim advent of the cashless-society in India?

Designing for trust in a culture with low trust of public institutions is a challenge to be addressed. Same goes for the ability to scale payment gateways across a diverse demographic. Many of those taking to eWallets and online bill payment are already in the formal banking system: they happen to be urbane, tech-savvy middle-class professionals who were sitting on the fence when it came to digital wallets. Service providers and small-businesses catering to this clientele are grudgingly following suit. Wider adoption, however, will depend on a transformation at the bottom of the pyramid. A few examples of the millions of people who habitually transact in cash in India:

• The semiliterate, blue-collar workers in unorganized sectors working in small scale industries, factories and other jobs are generally unbanked
• Workers in informal sectors in urban India – maids, household workers, drivers, security guards, building construction workers and others drawing minimum wage
• Hawkers, vendors, small-shops, tea-stalls and roadside eateries in street corners across cities and villages
• Rural India is largely agrarian, and agricultural income earned in India is exempt from tax. Cash is the king in this sector and farmers, growers and landlords have little incentive in going cashless (link: www.incometaxindia.gov.in/Tutorials/11.Tax free incomes final.pdf )

Most of the folks in these sectors are habits of creature, and love nothing more than counting cold-hard cash after a day’s labor. Weaning them away from the culture of cash to a world where their earnings remain in virtual world in digital wallets they don’t comprehend may take some creative persuading and goading.

Another challenge that needs to be addressed is the issue of merchant-fees charged by Digital payment providers. Businesses and merchants, especially those serving customers at the bottom of the pyramid are going to be loath to shell out a fee, however small. This is not a trivial problem. Even credit card networks with American Express, Visa and Mastercard in mature markets like the US and Europe continue to struggle in courting small businesses that are hesitant to pay the 2-3% transaction fee for Point of Sale transactions. Even there, cash is sometimes the king.

Bottomline: We are talking about a cultural transformation that needs to accompany technology adoption. Those of us who have spent years in technology transformations realize that success of technology innovations hinges on user buy-in at the last mile.

(Reposted from LinkedIn pulse)

Recent NRI Q&A: Can NRIs write IAS? and other questions

Here are my recent responses to questions about  NRIs on Quora. Do keep the questions coming. I will try and respond on this blog or Quora  

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Question: Can NRIs write IAS?

Check out eligibility listed for Civil Services Examination - Wikipedia “For the Indian Administrative Service, the Indian Foreign Service and the Indian Police Service, a candidate must be a citizen of India.”

An Non Resident Indian (NRI) who is an Indian citizen - holding Indian passport - can appear for the exam if otherwise qualified

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Question: How are baby showers in India different from baby showers in the U.S.?

In the U.S., baby showers aren't always women-only. As a guy, I have been invited to several babyshowers, including one for my (then) pregnant boss years ago!

These events have been social gatherings with some potluck and some gift-giving [even when invitation emails said “no gifts please”]. And then there is the American commercialization at work: Online gift-registries are heavily promoted by Amazon, Target Babies"R"Us et al

(Image: google search)

Neelima Paravastu has posted a great response on the Hindu customs followed. Indians following other religions - Muslims, Sikhs, Christians etc - also have similar religious ceremonies. A couple of additional points to note on Indian-babyshowers in the US:

• Baby-shower is generally a religious ceremony.
• Close family-and-friends - generally married women - are invited to bless the mother-to-be and the unborn baby.
• The ceremony is grander for the first-born (especially if the parents realize It’s going to be a boy! - don’t ask me why)
• Gift giving is not prevalent in India. However, Indian Americans and NRIs have taken to gift registries like ducks to water. Gifts and gift-cards are appreciated and welcome. :-)
• Potluck or lunch/dinner may follow the ceremony

As a photographer for an Indian-American baby shower, what do you do? Just observe and take good pictures of the “ceremony” guided by your host. It is not rude to ask questions (when in doubt)

Enjoy the vent and make sure you enjoy the good food and post some pictures here!

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Question: Is there any threat to the jobs of the Indians living in the US by Donald Trump becoming the POTUS? 

“Indians living in the US” is a broad term, so let us look at the distinct groups of Indians working* in America:

• Indians on temporary work visas (H1, dependents -H4): Media is speculating that there will be a change to H1 Visas (What Will Happen to H-1B Skilled-Worker Visas Under Donald Trump?). In the near future, prospective H1 applicants will encounter more scrutiny
• Indians on L1 (company transfer and dependents): Change to immigration laws may impact intra-company transfers; but such a change is not likely in short term.
• Indians on Green Card (permanent residents): Even if there is a dramatic immigration overhaul, it’s unlikely to be done retrospectively. Therefore, there is little likelihood of impact to those already living on green in America
• Indians working in the US illegally: Like folks from other countries, there are some Indians who have overstayed their visas and are living and working in America illegally/without work permits. Any action on undocumented workers in America is bound to impact this group too.

*I have not included Naturalized Indian-Americans or students (F1 visa holders) or those on temporary business visas B1 etc since the question was about “jobs of the Indians living in the US”

Recent NRI Q&A: Will Indian parents have to pay NRI Fees for schooling in India, if their child is born in the US?

Here are my recent responses to questions about  NRIs on Quora. Do keep the questions coming. I will try and respond on this blog or Quora  

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Question: Will Indian parents have to pay NRI Fees for schooling in India, if their child is born in the US?

The Fee for School and admissions really depends on parents and less on the immigration status of the child. Most schools have a complex fee structure that could include items like

• Admission (donation and other fees)
• Initial fees (books, annual fee etc)
• Annual fee
• Tuition (monthly/quarterly)
• Special fee for sports and other activities
• Transportation fee etc. etc.

Image source (link)

If the Indian parents flaunt their NRI status and seek admission in elite “International” schools, they will have to pay the going rate. Some of these elite-schools cater to international expatriates, Diplomats and others, and charge equivalent of the fee in Dollars. American School charges $24,200/Yr for Grades 1–5.

(Link Article on American School in India)

On the other hand, if they decide to seek admission in convents/English-medium or other schools where most middle/upper-middle class folks send their kids to, they may have to pay a high initial admission fee, after which other fees would be on par with locals.

Recent Q&A on NRIs

Here are my recent responses to questions about  NRIs on Quora. Do keep the questions coming. I will try and respond on this blog or Quora  

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Question: Why are Indians so obsessed with the NRI status?

The purchasing power of NRIs -essentially the “rich uncle” syndrome is part of the reason for the obsession.

But that alone doesn't explain the full story. Different groups in the society are obsessed for different reasons:

• Relatives of NRIs: Obsessed with the rich uncle/aunt/cousin whom they can lean on for foreign goodies and some $$s
• Real-estate agents, builders and brokers: Opportunity to “sell” a slice of Indian dream to this affluent market segment
• Students and youngsters: Look to NRIs as global role model: “If my cousin could go to US to study and get a nice job at Google/Microsoft, so can I!”
• Rest of the digirati and Junta: Always looking for interesting stories. NRI did well in ….. America, England, elsewhere is and interesting story.
• Media and Journalists: Always looking for a juicy story to sell to the above groups. NRIs stories sell!

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Question:  What do we do with left over money after the visit to India as an NRI? 

The question is too open ended. Your options would depend on :

• NRI status and intent: Are you a transient NRI (e.g working for a service company with an Indian passport) or hold a foreign passport (and only occasionally travel to India)
• Amount of money we are talking about.
• If it is a few hundred rupees, why not just donate it to charity?
• If it is a larger amount - hundreds of thousands - you need to think if you want to “invest” it or repatriate it back “home” in Dollars, Euros or Pounds
• Bank accounts in India: Many long-term NRIs who just visit India occasionally may not have bank accounts or the means to manage their investments in India. For them, holding Indian currency is meaningless
• Other factors: your investment preference, inclination to donate to charity etc etc.
• More recent factor: Is the money in OLD 500s and 1000s. If so, is the Amount in India or with you overseas? Check out: Indian Government's decision to do away with 500, 1000 RUPEE NOTES! Impact on NRIs )

Think about it a do good!

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Question:   What should the Indians abroad in possession of ₹500 and ₹1000 notes do if they are not returning till 31 Mar 2017? 

First things first. What will NOT work

• Panicking about this is not going to help. Unless you have stashed away hundreds of thousands of rupees in 500 and 1000 rupee notes in your bedroom or bank locker overseas, there is no reason to panic.
• If you had a lot - hundreds of thousands - of currency notes with you while traveling overseas, ask yourself:Has the money had already been taxed in India? If yes, just hold on to the currency till your next trip back to India and follow RBI guidelines ( check out Indian Governemtn statement )On the other hand, If the money had not been taxed, or it was a "cash payment" you received, ask yourself if you should just count your losses and walk http://away.As per RBI regulations, Foreigners and Indians are not legally "allowed to carry any Indian notes with them." Although the rule, which is part of Foreign Exchange Management Act (FEMA), has been in place for quite sometime now, it is only now that the central bank is trying to enforce it.If you walk into an Indian Embassy or Consulate overseas with a suitcase full of 500 or 1000 rupee notes, you could be in trouble!
• Branches of "Indian" banks like State Bank of India, ICICI and other banks in the US and Canada operate as local banks. They are not authorized to operate your "Indian" NRI or NRO accounts. Therefore, they will not take your 500 or 1000 rupee notes for deposit.
• Currency exchange ( money-exchange ) outlets in foreign countries may NOT accept the old 500 or 1000 rupee notes. There are already accounts in media that commercial money exchange outlets overseas have reportedly refused to accept the old 500 and 1000 notes.

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Here are a few facts and practical tips for NRIs, left with "some" Indian currency in hand:

1. Carry the cash with you to India: According to a press release by India's Ministry of Finance, individuals can exchange the old notes till December 30, 2016.
2. If you have some money left back in India, you could authorize another person in India to deposit the notes: According to RBI guidelines, if you have old banknotes in India, others may be authorized to deposit the notes into your Non-Resident Ordinary (NRO) or Non-Resident External (NRE) bank account. The authorized person should go to the bank branch with the old banknotes and authorization letter from you. He or she should also carry a valid Indian identity proof
3. Send the rupees back to India with someone you trust. If the person is traveling before end of 2016, he or she can deposit it into your account (similar to step 2)

 Mohan Babu K, Indian American, OCI... Once an Indian, always an Indian at heart