GENERAL DIASPORA

IN ORDER to ease the Right to Information (RTI) application process from abroad, the Central Information Comm­ission has framed new rules enabling NRIs to pay application fees and information costs at the Indian embassies and missions abroad. 
NRIs will also be able to avail audio-video conference facilities in case of first and second appeals. 
"We have finalised new rules and regulations which will help NRIs easily process their applications while exercising their Right to Information. There will be an easy-to-follow procedure for paying fee against the information in Indian embassies and audio-video conferencing facility in case of first and second appeals," Chief Information Commissioner Wajahat Habibullah said. 
Habibullah said "Embassies may accept only the fee and information cost and provide e-receipts to applicants who can then directly file their RTIs to public authorities in India by email along with proof of payment." 
The CIC said, "I will soon meet officials concerned at the Ministry of External Affairs and Ministry of Personnel and Training other stake holders for this."

IN AN indication that the diaspora continues to repose faith in India amid turbulent times, net inflows from non-resident Indians witnessed a stupendous, over twenty-fold rise to $4 billion in fiscal 2009 as these constituents sharply increased their exposure to various NRI deposit schemes. 
Notably, inflows in March itself crossed $1 billion, the highest since October 2003, and testament to the fact that Indians abroad increasingly sought financial safety of their shores. 
Latest figures by the Reserve Bank show that net inflows through various NRI deposits surged from $179 million in FY08 to $3,999m in FY09. These include inflows through foreign currency non-resident-banks (FCNR-B ), nonresident (external) rupee accounts (NRE-RA) and non-resident ordinary (NRO) deposit schemes. 
The last time such a huge surge in NRI deposits took place was in Jun-October' 2003, when the rupee was strengthening against the dollar. With interest rates also very high relative to their local markets, NRIs not only enjoyed an interest rate arbitrage back then, they also gained from currency arbitrage.