What is BBK Group?
It is comprised of Bank of Bahrain and Kuwait and all its overseas branches, representative offices, and the bank’s wholly owned subsidiaries CrediMax and Invita.
When was BBK established?
BBK was established in 1971 and started operations in 1972.
Who are BBK’s current major shareholders?
The current major shareholders are Social Insurance Organization (Kingdom of Bahrain), FINCORP W.L.L (Kingdom of Bahrain), and Kuwait Investment Authority (State of Kuwait).
How many branches does BBK have in India?
What is BBK's swift code?
BBK’s swift code is BBKUBHBM.
What are our ATM services (debit card services)?
What services do we offer for NRIs?
How to Complaint?
What are our service charges and fees?
What is a deceased account?
A deceased account refers to a bank or financial account held by an individual who has passed away. Access to this account is typically restricted and requires legal documentation, such as a death certificate and probate court order, to transfer or manage the funds. Handling such accounts often involves settling the deceased’s estate according to their will or state laws.
What is required for the KYC process?
Who is NRI
As per FEMA Defination :
- NRI is defined as a person resident outside India who is citizen of India.
- In terms of Regulation 2 FEMA Notification No.13 dated May 3, 2000, Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India. Person of Indian Origin (PIO) means a citizen of any country other than Bangladesh or Pakistan who had (a) at any time held Indian passport or (b) he or either of his parents or any of his grand -parents was a citizen of India by virtue of the Constitution of India or the Citizenship Act 1955 or (c) the person is a spouse of an Indian citizen or a person referred to in (a) or (b).
What are the tax benefits available for NRIs?
Income Tax Criteria for RNOR (Resident but Not Ordinarily Resident)
If a NRI comes back to India and loses his NRI status, he will not be subject to tax in India on his world-wide income, for 2 years, if either of the following two conditions are satisfied :
- He has been in India for not more than 729 days during the preceding seven financial years; or
- He has qualified as a non-resident for nine out of 10 preceding financial years. Similarly, if in any particular financial year, his stay in India exceeds 182 days and he loses his NRI status for that year, his income outside India will still not be taxable if any of the above two conditions are satisfied and his tax status will be that of a ‘Not Ordinarily Resident’ Indian.
