Posts Tagged ‘Dollars’

Popular myths & wrong notions about NRI’s

July 26, 2013

There are many myths about NRI’s & immigrants amongst the general population. Most of them are based on assumptions, stereotypes & uninformed perceptions. There are many reasons why foreign citizens immigrate to other nations but a raise in the standard of living is a desire that most have.

This is our attempt to bust myths for the enlightenment of the general public.

Myth 1: NRI’s do not pay taxes

All immigrants pay taxes. They range from property to sales tax. Even undocumented immigrants pay income taxes.

Myth 2: NRI’s slog it out day & night & then send all their earning back to their home country, causing the host nation’s economy a loss.

There is great dissension in a given company where one national is irritated that an NRI works overtime & raises the bar at the workplace, thus causing undue competition. He works extra, earns extra & later collects a hefty sum to send to India. There is no doubt that immigrants send their earning to their families back to their home country. But they do so in addition to their expenditure as an immigrant in the foreign country. Their business contributes $162 billion in tax revenue to U.S federal, state & local governments.

Myth 3: Job opportunities for Americans are taken away by NRIs & other immigrants.

There are various American citizens today who started off as immigrants in the host country & today have reached a position where they are creating jobs for the public- Americans & immigrants alike. The truth is, jobs are created as well US as well as foreign workers by immigrant entrepreneurs. They posses a skill which help them thrive in competition. This does not mean that jobs are stolen, they are simply achieved on the basis of merit.

Are there any other popular myths you know of & would like to bring to our attention? What is your view on the topic listed above?

To know more about NRI Money Transfer and other online banking services you can also visit our website.

If Money wasn’t an object

February 15, 2012


They may say that money is not the most important thing in life, yet most of our lives revolve around it. It determines what education we can receive, what type of job we are finally able to get and for lots of us, our geographical location as well. Just like you have to move to Mumbai if you want to work in the Indian film industry, a lot of people move abroad since it pays better to work in same jobs. From menial jobs to heading a company, the simple mathematics of Dollars vs Rupees means it pays more to be abroad.

People may blame it on career opportunities, better living conditions, etc. but it all ultimately boils down to money. That is the sole reason for many to move abroad. But what if money was not the object? Say you already had all the money you would need to live a more than comfortable life? Or we were living in a sort of Utopia where money didn’t exist! What would you do then? What would your career choice be? Money can be a great motivator, but is that all that drives you in life? There are many people who have been able to follow their desires and passions and earn money for it, but all of us may not be as lucky.

Would you choose to donate all your time to a good cause or just laze around and spend your time doing nothing? Would you try and pursue a passion for music and try to become a Rockstar? Or try and break into the entertainment industry? Is your high power corporate job what you would still love to keep?

So many questions but there can be only one answer. And that answer has to come from within you. So think hard and let your imagination go wild…If money wasn’t an object, what would you want to do?


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