Modi to allow Hindu migrants from Pakistan to open bank accounts in India

Prime Minister Narendra Modi is fulfilling his promise made during campaigning for general elections last year.

Modi had made a pitch to bring back Hindus, who are harassed and suffer in other countries, saying India was the only place for them.

Now his government is planning to allow Hindu migrants, who come from Pakistan in India on long-term visas, to open bank accounts and buy residential properties even without Indian citizenship.

If this becomes policy and is implemented, Hindu migrants from Pakistan as well as Afghanistan will be able to open bank accounts on the basis of their visa and residential permits issued by the Foreigner Registration Office (FRO) or the Foreigner Regional Registration Office (FRRO).

Economic Times had earlier reported that the NDA government granted citizenship to over 4,000 Hindus from these South Asian countries, four times the number managed by previous Congress-led government.

“The government is keen to extend these facilities to Hindu migrants from Pakistan because it considers these Pakistani nationals victims of persecution,” senior government officials familiar with this development told ET on condition of anonymity.

The officials told the financial daily that the government may also allow Hindu migrants from the neighbouring country to open Non-Resident Ordinary (NRO) rupee account without RBI approvals.

Presently, NRO accounts can be opened with banks and authorised dealers by anyone residing outside India. But RBI approval is needed in case of Pakistani and Bangladeshi entities.

"There are various options on the table. We will examine them and also seek view of the home ministry regarding security concerns," a senior official told ET.

(Image: Reuters)