Effective NRI Banking... 4 Follow these simple steps for effective NRI Banking.

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Sabrina McDaniel
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In focus Index In focus: Discover the joy of giving... 2 Read about the efforts made by ICICI Foundation to support inclusive growth & how you can make a difference by donating.

1 In focus Index In focus: Discover the joy of giving... 2 Read about the efforts made by ICICI Foundation to support inclusive growth & how you can make a difference by donating. ICICI Foundation for inclusive growth was founded by ICICI Group to empower low income Indians to participate in and benefit from India s growth. Effective NRI Banking... 4 Follow these simple steps for effective NRI Banking. NRI Expert speak... 5 NRI expert speak section, Mr. S. Shanbhag, leading tax consultant gives us guidance on steps to be followed on becoming an NRI. What s new@ ICICI Bank... 6 You can find out how to generate your ICICI Bank Internet Banking online password.

2 In focus Discover the joy of giving Carrying forward its long history of working for India s development, ICICI Group is working to create conditions for the empowerment of the socially and economically disadvantaged. We strive to make a difference to our customers, society and the nation s development directly through our products, services and business operations, as well as through outreach with civil society in the communities we serve. ICICI Bank s Social Initiatives Group (SIG), a non-profit group set up within ICICI Bank in 2000, pioneered our work on health, education and access to finance. In January 2008, ICICI Group established ICICI Foundation for Inclusive Growth (ICICI Foundation), which carries forward this legacy. ICICI Foundation works to empower low-income Indians to participate in and benefit from India s growth. They also work with ICICI Group companies in the formulation and execution of their social responsibility activities. Focus areas of ICICI Foundation Primary health - Improving health and nutrition for children and women Elementary education - Advancing elementary education in government schools Access to finance - Expanding access to financial services Civil society - Promoting a vibrant and strong civil society Environmental Sustainability - Supporting an environmentally sustainable economy from the bottom up Sustainable livelihood - Promoting employment, self-employment and micro-ventures Primary health: In the area of primary health, ICICI Foundation s goal is to improve the delivery of health services to remotely-located and low-income individuals and families. We have worked to strengthen public health capacities and practice to ensure positive health outcomes for children in the poorest communities of Bihar, Jharkhand, Chhattisgarh, Orissa and Maharashtra. Elementary education: In the area of elementary education, we work to improve the provision of elementary education in India. We have worked actively with state and district-level bodies (e.g. District Institutes for Education and Training, Block and Cluster Resource Centres, and State Councils for Education Research and Training) in Rajasthan, Bihar and Chhattisgarh to reform and strengthen the public education system. 2

3 Access In to focus finance: In the area of access to finance, our goal is to ensure universal financial inclusion. We partner with ICICI Group companies to facilitate greater access to finance in communities where we are active in health and education, and we support other partners to develop entirely new financial services products and delivery channels for low-income individuals, households and enterprises. In addition to our work in these areas, ICICI Foundation has launched ICICI Fellows, a leadership programme that aims to provide India s next generation of leaders with the experience and skills required to promote sustainable growth across the nation. This programme was launched in 2009 and is designed for high-achieving youth from the ages of 21 to 28. The Fellows programme spends two years working on grassroot development projects with non-governmental organisations (NGOs) in rural India, combined with modules on management training and leadership development as well as personal development and mentoring. Applications for the programme will be accepted until January 31, Please visit for more details. For more information about ICICI Foundation, please visit 3

4 Effective NRI Banking Tips for Effective NRI Banking Follow these steps for effective NRI Banking A) Maintain a minimum Quarterly Average Balance - Maintain a minimum of INR at a Customer ID level, or INR at an Account level to avoid charges. An effective method of ensuring that these charges are not levied is to book a Fixed Deposit under your Customer ID. B) C) Update your Contact Details regularly - Always keep your Phone Number and ID updated with us so that you do not miss out any important communication such as Account-related modifications, changes in Terms and Conditions, Promotional Offers, etc. Your details can be easily updated by calling our 24-hour Customer Care. Add a Mandate Holder - Being an NRI, you cannot physically be present to handle your financial matters for most of the year. Hence, to take care of your finances in India, you can appoint a Resident Indian you trust a friend or a family member, to act on your behalf. D) Use Internet Banking - Through your Internet Banking Account, you can view your balances, book Fixed Deposits, pay your India bills, transfer funds and more, at any time when you are overseas. E) Transact regularly - To maintain the security of your Account, you are required to transact regularly. If you do not transact for over 12 months, you will not be able to request for a Cheque Book or update your address. Further, if you do not transact for over 24 months, you will not be able to withdraw cash and renew your ATM/ Debit Card. This is a precautionary step for the safety of your Account. 4

NRI Expert speak NRI Expert Speak - Mr. S.Shanbhag The scope of taxation for NRIs is extremely vast, given the various facets that have to be taken into account. Mr. Sandeep Shanbhag, an eminent personality in the field of NRI Taxation guides you through the various aspects of taxation.

5 NRI Expert speak NRI Expert Speak - Mr. S.Shanbhag The scope of taxation for NRIs is extremely vast, given the various facets that have to be taken into account. Mr. Sandeep Shanbhag, an eminent personality in the field of NRI Taxation guides you through the various aspects of taxation. In this issue, Mr. Shanbhag speaks about the various steps to be taken after becoming an NRI. Question: I am an ICICI Savings Bank Account holder. I will be relocating to UK soon. I have two questions. I would want to continue to use my existing account and also be able to transfer funds from UK into this. NRI Expert Taxation - Mr. S.Shanbhag s Answer: I presume from your question that you are soon to become an NRI. On becoming an NRI, legally you are required to inform all your banks and all the companies where you have investments about the change in your status within a reasonable time. The banks will re designate your accounts as NRO. You can use this Account the same way you used it before becoming an NRI. It is also necessary to inform all the companies of whose shares you hold, and UTI/Mutual Funds about change in your status. If you have a Demat Account, it is not necessary to inform the companies but informing the Depository Participant (DP) is a must. You will also have to start filing your Tax Returns based on your new NRI status. True, if the Indian income is below the taxable threshold, there is no need to file the returns but it is prudent to do so for maintaining the continuity. Even after you become an NRI, you are free to deal with all your investments and assets you held prior to becoming an NRI any which way you desire. The only restriction is that the original corpus is non-repatriable. You should also open an NRE Account, since the Interest thereon is tax-free in India as long as you are an NRI. 5

6 What s new at ICICI Bank Online Password Generation for NRI customers What s new at ICICI Bank- Online password generation for NRI customers At ICICI Bank it is our constant endeavour to make Banking convenient for you. As a part of this endeavour, we have enabled Online Generation for log-in Passwords for your Internet Banking Account. Here is the step-by-step procedure for generating your password: Step 1) Click 'Online Password Generation' on the log-in page. Step 2) Step 3) Step 4) Step 5) Step 6) Step 7) Step 8) Enter your user ID and registered ID. After entry, a 6-digit Pass Code will be sent to your registered ID. Call our 24-hour Customer Care, enter your 16-digit Card Number and its 4-digit PIN to authenticate on the IVR. Select Option 6 on the IVR and enter the 6-digit Pass Code received via . Generate an 8-digit One Time Password of your choice. Login with a new Password on Change the log-in Password generated through the IVR..and you are ready to experience the power of ICICI Internet Banking. 6

We are building a more sustainable bank

We are building a more sustainable bank Bitesize factbook We are building a more sustainable bank; a more responsible company, doing business in a more sustainable way. We consider the long-term impacts