NRI Worldwide > NRInterest
NRI compensated for wife’s death in Kolkata Hospital
Report dated 16/05/2012 @ 7:12 PM
US NRI Kunal Saha's wife Anuradha Saha, died during a social visit to Kolkata around 12 years ago, from a rare and deadly skin condition. Dr Kunal is an HIV/AIDs researcher and his late wife was a child psychologist.
After the Supreme Court found three doctors and the AMRI hospital guilty for Anuradha's death and remitted the case to the National Consumer Forum (NCDRC) for the determination of the quantum of compensation, the NCDRC awarded Rs.1.7 crore including Rs.40.40 lakh each against Dr Sukumar Mukherjee and the AMRI Hospital, while Rs.29.93 lakhs each was awarded against Dr. Baidyanath Halder and Dr.Balaram Prasad.
Almost five months after the NCDRC awarded the highest compensation in Indian medico-legal history, the accused hospital and doctors of Kolkata, recently paid up.
The bereaved Dr Saha stated that the medical community in West Bengal, especially the West Bengal Medical Council had tried to protect the guilty doctors. In the course of his fight against the doctors and AMRI, Saha set up People for Better Treatment, India's largest patients' body against medical negligence and medical malaise. He is also fighting corruption in the health sector and in the medical community across India.
UK crackdown on NRIs for illegal 'beds-in-sheds' accommodations
Report dated 15/05/2012 @ 7:26 PM
Britain has stepped up action against landlords, many of them of Indian origin, who construct illegal extensions to their homes and rent them to illegal immigrants at extortionate rates.
The extensions - called 'beds in sheds' - are considered hazardous, with slum-like conditions and are occupied by illegal immigrants particularly in areas such as Brent, Ealing, Hounslow Southwark and Slough.
Housing Minister Grant Shapps has allocated 1.8 million pounds to councils where the illegal renting takes place, and has formed a task force that includes officials of the UK Border Agency to deal with the situation in which criminal landlords trap vulnerable people. The fund will help tackle the problem head-on and end the growing practice. Councils who have turned a blind eye to the illegal practice in the past have been asked to use the funding and range of powers at their disposal to remedy the situation and flush out those who exploit illegal migrants.
American beer 'Kali-Ma' to be renamed to avoid offending religious sentiments
Report dated 14/05/2012 @ 12:07 PM
Portland based Burnside Brewing Company announced the introduction of a beer brand called Kali-Ma, named after the Goddess Kali, and advertised for the product with a picture of the Goddess with four arms and three severed heads.
The Nevada based Hindu statesman Rajan Zed, president of the Universal Society of Hinduism, protested saying the trivialisation of Kali is disturbing to Hindus the world over and is not to be used in selling beer for mercantile greed.
The company has apologised and postponed the release of the beer saying that in response to pleas from the Hindu community they have decided to postpone the limited release of the beer and that it was never their intention to offend or alienate any race, creed or religion. They are now scrambling to rename the beer.
Oddly enough in Delhi a local beer called Kalyani – one of the many names of Goddess Durga – has been available for years.
NRO, NRE or FCNR term deposit: Which one to pick?
Report dated 13/05/2012 @ 8:33 PM
With the Reserve Bank of India's slew of changes introduced to stem the slide of the rupee, that included deregulated interest rates on NRO savings accounts, NRE term deposits and FCNR Accounts, and subsequently spiked interest rates on all these accounts, things are looking up for NRIs. The question is which of these accounts should an NRI select.
The offerings are somewhat vast and can be confusing given that the method of transfers, banks involved and currency of source funds, as well as the double tax scenario and accompanying currency risks, the possibilities are like a mine field, step right and you succeed, step wrong and it could blow up.
Experts say given the volatile relationship between the rupee and the dollar FCNR deposits with deregulated interest rates may provide a currency hedge to investors. One is advised to keep in mind the tax impact even though over the years the RBI has made repatriation fairly liberal.
A professional financial advisor or accountant will be able to assist one make the decision, but even so, one must keep an eagle eye open to the fluctuations in currency exchange rates, other possible amendments in the rules, and environmental and political factors, a hard task indeed, unless one is in the business of trading and finance market tracking.
Asia Society's president/CEO Vishakha Desai to step down
Report dated 13/05/2012 @ 8:32 PM
A global non-profit organisation, the Asia Society's head Vishakha Desai, who has advised President Barack Obama on India related issues, is stepping down as president and CEO after 22 years at the helm of the leading cultural and educational body.
Desai will leave her post on September 1 and join the Guggenheim Foundation, a preeminent institution for the collection, preservation and research of modern and contemporary art, as Senior Advisor for Global Policy and Programmes. She is also talking with various universities to develop a special initiative focusing on the intersection of culture in international relations.
Desai, an expert on Asia art, joined the Asia Society as its museum director in 1990 and was appointed to lead the institution in 2004.
In a statement she said it was time for her to move to the next phase of her professional life and that it was a privilege to preside over the institution. During her tenure Desai oversaw a major expansion of the Asia Society's headquarters in New York with establishment of new offices in India and South Korea.