Aadhaar mandatory for opening bank A/c, transaction over Rs50K

cmk786 · Post by **cmk786** » Fri Jun 16, 2017 6:31 pm

I wonder if this applies for NRIs who are living outside India as well. If so can some one guide use how to obtain the Aadhaar card from US.

Umang · Post by **Umang** » Fri Jun 16, 2017 6:35 pm

cmk786;657599I wonder if this applies for NRIs as well. If so can some one guide use how to obtain the Aadhaar card from US.

The Aadhaar card is for residents. At the very least you have to be physically present in India.

As far as I know, non-residents are exempt. But, this is India, land of conflicting rules. One never knows.

RAJESH H DHRUVA · Post by **RAJESH H DHRUVA** » Fri Jun 16, 2017 11:20 pm

Dear cmk786,

1. Non Residents cannot apply for nor avail Aadhar card.

2. Relevant FAQs on Govenment website are posted herein :

https://uidai.gov.in/your-aadhaar/help/faqs.html

Can NRIs also get Aadhaar?
As per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, only a resident who has resided in India for a period or periods amounting in all to 182 or more in the 12 months immediately preceding the date of application for enrolment.
What is the process if NRI / OCI holder needs to apply for Aadhaar? And if they don't have their own residential address in India now?
As per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, only a resident who has resided in India for a period or periods amounting in all to 182 or more in the 12 months immediately preceding the date of application for enrolment.

Best wishes
RAJESH H DHRUVA
femaonline.com

cmk786 · Post by **cmk786** » Sat Jun 17, 2017 12:57 am

That means we NRIs residing in US and who has bank accounts in Indian bank. Can with draw more than 50k rupees from their account without Aadhaar card.

hermes · Post by **hermes** » Sat Jun 17, 2017 2:17 am

cmk786;657644That means we NRIs residing in US and who has bank accounts in Indian bank. Can with draw more than 50k rupees from their account without Aadhaar card.

Do you think the government would want to lose the 67 billions remitted by NRIs? Even if they lose 10$ billion by their stupid moves, it will shoot up the exchange rates.

dbs · Post by **dbs** » Sun Jun 18, 2017 4:53 pm

cmk786;657644That means we NRIs residing in US and who has bank accounts in Indian bank. Can with draw more than 50k rupees from their account without Aadhaar card.

I am sure this rule would not apply to NRE/NRO accounts.

If you are resident in usa than you would not be having Resident accounts.
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CASH FLOW ... The movement my money makes as it disappears down the toilet.

cmk786 · Post by **cmk786** » Sun Jun 18, 2017 11:40 pm

dbs I know you are living in India for a while and very happy as well. I also know that you are also pretty much my age give or take few years. I am retiring in January of 2018 and all set to retire in Kissimmee, Florida. But I always wanted to retire in Karnataka, India. But at the last moment chickened out due to fear of not able to cope with the lack of clean environment and affordable health care. Because for me in US I have very good coverage from my retirement being worked for the US government. But I think you are the best advice for me to tell me if I did right or wrong by deciding against retiring in India. All though I am not rich but at least I have a steady monthly income of close to rupees 3 lacks and I have around rupees 40 lacks in hard cash in India. I do not own any property in India. I have good health except I take regular medication for Hypothyroidism and I am not sure if this matters to retire in India.

Umang · Post by **Umang** » Sun Jun 18, 2017 11:53 pm

cmk786;657822dbs I know you are living in India for a while and very happy as well. I also know that you are also pretty much my age give or take few years. I am retiring in January of 2018 and all set to retire in Kissimmee, Florida. But I always wanted to retire in Karnataka, India. But at the last moment chickened out due to fear of not able to cope with the lack of clean environment and affordable health care. Because for me in US I have very good coverage from my retirement being worked for the US government. But I think you are the best advice for me to tell me if I did right or wrong by deciding against retiring in India. All though I am not rich but at least I have a steady monthly income of close to rupees 3 lacks and I have around rupees 40 lacks in hard cash in India. I do not own any property in India. I have good health except I take regular medication for Hypothyroidism and I am not sure if this matters to retire in India.

Please stay where you are. If you miss India, make some trips to Taj Exotica in Goa or watch Rick Stein's India.

Florida is a wonderful place to retire. Warm weather, lots of sun. My only fear is that it shall be overrun with Mexicans in the next few decades and they'll kick all the Indians out.

Jerry Seinfeld's parents retired to Florida. I can think of no higher endorsement.

dbs · Post by **dbs** » Mon Jun 19, 2017 1:28 am

cmk786;657822dbs I know you are living in India for a while and very happy as well. I also know that you are also pretty much my age give or take few years. I am retiring in January of 2018 and all set to retire in Kissimmee, Florida. But I always wanted to retire in Karnataka, India. But at the last moment chickened out due to fear of not able to cope with the lack of clean environment and affordable health care. Because for me in US I have very good coverage from my retirement being worked for the US government. But I think you are the best advice for me to tell me if I did right or wrong by deciding against retiring in India. All though I am not rich but at least I have a steady monthly income of close to rupees 3 lacks and I have around rupees 40 lacks in hard cash in India. I do not own any property in India. I have good health except I take regular medication for Hypothyroidism and I am not sure if this matters to retire in India.

I don't know whether to give or take a few years. DW has been giving me her years (Tumko hamari umar lag jaye) so she looks younger than her age and I look older with her years tacked on to mine.

You are correct that I am quite happy to be here in India. I have a very easy going nature and believe in letting people live their life rather than how I want them to. In fact, after my ops, carol the nurse, used to complain that the problem with me is that I do not complain.

My expenses (along with DW's) are usually around 100Kpm ( I live with DW in her house) but I do have lot more than 40L (not in hard cash) invested. My investments have grown in last 10 years that I have been in India. Our current income exceeds our expenses and with my age I am very sure even with the dire economic scenario (inflation) painted for India, I shall not have to touch the properties that DW owns to meet the living expenses.

My sons do not need any help from but I am reasonably sure that they will help in case of my need. In fact even if they do not, our grand-daughters will be of age by then and they do adore their grand-mother.

I guess your pension (3 lacs pm) will definitely be sufficient for you to live lavishly in Karnataka. I really do not know but if this is US govt. pension than it will not be taxable in India. In fact, you would be hard pressed to spend all of it unless you do have some unusual hobbies like race horses, gambling in casinos or fancy women. I don't think that if you had such habits, you would be asking me this opinion.

That would mean that you are building up your cash reserves that will cushion you against inflation. For initial few years certainly your nest egg of 30 lacs will grow. This nest egg will be handy incase of a sudden medical emergency and should be sufficient. In any case, you should be able to R2A to get medical assistance provided by US Govt to its retired employees.

Forgive me but it is difficult to imagine that a person having spent many years in a job in the usa will have only about 30lacs in retiral funds such as 4K(Roth) or some such term that is often discussed in the forum for employees in usa. But let us ignore that.

As for the decision to retire in usa and not in India. I can find no fault with that. I have always advised my friends to retire some where that they have a good support system. A friend of mine wanted to retire in Dehradun. I advised him to take a transfer to Dehradun, a few years before his retirement to develop a good support system, find friends that are reliable, that he is comfortable around and know what is to be done in a case of emergency or an unforeseen event.

No man is an island. I came back to India because I have good friends from student days and from my early employment days in India. One fellow lent me a car while I was waiting to buy mine. Others would come to pick me up to go to a party. Once I had eaten a bad fish in a well known place and DW just rang up, a neighbour doctor appeared in 5 minutes and two other guys were with her within 15 minutes to take me to hospital. It was not that serious an emergency; only a case of dehydration but it was emotionally good for DW.

There are friends that know people in different professions, doctors, bureaucrats, police, lawyers, real estate brokers who can be drawn on when and if a need arises.

I would have been good in UK as well. When I had a coronary infarction, the mabulance was quick to arrive so were a local couple to drive DW to hospital and hold her hand while it was touch and go for me. They would ferry her to hospital and back while I was there as she did not drive in the UK. After my CABG procedure, friends would come to take me out to lunch and to help her get the groceries as I was not allowed to drive. One friend drove from east side of London(essex) to Maidenhead to take me out on an outing. We still meet when I visit UK.
My friends tell me that I am very willing to take risky decisions.When I went west, it was not an economic reason or lack of employment. I was quite well off, living in a rented single home in Green Park (delhi), had air-conditioners, two cars and a chauffeur. I went because I was feeling stifled for lack of interesting work.

I can find no fault with your decision to retire in the usa. Economically you should be OK in India. It is the emotional side that I find myself unable to give any opinion.

Take what I have said with more than a pinch of salt.
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no matter how serious your life requires you to be, everyone needs a friend to act goofy with.

cmk786 · Post by **cmk786** » Mon Jun 19, 2017 1:48 am

Members on this forum must be wondering why I am so cautious in making the decision where to retire in US or India. Every one has dreams in their life and I am not an exception. I wanted to have a comfortable retirement life and for which I did lot of struggles in my life. I came to US in 1985 with immigration visa. In 1987 I started my career in IT in mid-frame computers as Wang Cobol programmer and I worked for a software support company run by an Indian. He did not pay me anything for 1st 6 months I worked free for him just to gain the experience and for this everyday I had to work for 5 to 6 hours in NJ and than I was supposed to go to New York to work on one more project until middle of night and only thing he was providing me was free dinner. After 6 months I was started getting salary and 50% of which was sponsored by the govt under a scheme called Job Training Program. This is how I started my career. I slowly started gaining experience and also my job prospect and salary also started slowly but steadily kept claiming. My last job was as SAP abap4 developer. I got tired of IT and than I switched my job and started working as Health Inspector. And that is what I am doing for past 14.5 years. Being worked for Govt I get good pension + very good post retirement health benefits and I am happy for this. My dreams are not big and I get happy for any little things because my desires are not big. I am a very simple man and want to keep it that way. But I do not want to risk my retirement by making any wrong decisions after going through so much in my life. I have bought couple of houses in Kissimmee. One I will be living and another I will keep it as investment property and currently tenants are living in both the house. This November on one of the house the tenant lease will be expiring and I will not renew it but I have decided to move in it. dbs and Umang thanks for your advice and many other on this forum has advised me earlier to stay put in US. And I hope I am doing the right thing in deciding to live in US. I will be visiting India every year for a month or so as long as I have enough strength to travel.