What is OCI category?
Overseas Citizenship of India (OCI) is a form of permanent residency available to people of Indian origin and their spouses which allows them to live and work in India indefinitely. Despite the name, OCI status is not citizenship and does not grant the right to vote in Indian elections or hold public office.
Can OCI get government job?
Do they need any advance permission or clearance to visit India? OCI card holders need to obtain a special permit to undertake: An internship in any foreign Diplomatic Missions or foreign Government organisations in India or to take up employment in any foreign Diplomatic Missions in India; or.
Can OCI holders travel to India during Covid?
In a move welcomed by the Indian diaspora, the government has said Overseas Citizens of India (OCI) card holders are no longer required to carry their old, expired passports for travel to India.
Can we renew OCI in India?
OCI registration certificate have to be got re-issued each time a new passport is issued up to the completion of 20 years of age and once after completion of 50 years of age in view of biological changes in face of the applicant. If the OCI card is issued at the age of 50 years, there is no need for re-issuance of OCI.
Are OCI holders NRI?
The NRI status can also be given to citizens who live abroad but have the roots connected to India whether through their parents or guardians. On the other hand, OCI cardholders are foreigners or citizens who want to work or to study within the Indian territory.
Can OCI holders travel to India right now 2021?
A. The Government of India has decided to permit all OCI/PIO card holders regardless of which country passport they hold.
When did the OCI issue GN 16 guidance?
Following the OCI’s issuance of GN 16 ( Guidance Note on Underwriting Long Term Insurance Business (Other Than Class C Business) in July 2015, the OCI published a set of Q&A on 24 February 2016, providing clarifications on a number of provisions of GN 16.
What do you need to know about GN 16?
GN 16 sets out the requirements for insurers underwriting long-term insurance business (other than linked long-term business), and its main objective is to ensure there is fair treatment of customers. Some of the main clarifications provided by the OCI are set out below:
What is section 6.6 of GN 16?
Section 6.6 of GN 16 specifies that key product risks should be included in the product brochure and marketing materials and insurers should communicate the relevant product risks to their potential customers. The OCI clarified that this requirement applies to new business sales only.
Do you need a clawback mechanism after GN 16?
The OCI also clarified that the clawback mechanism requirement applies to all policies, and is not only limited to new products launched after GN16 is effective.