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Financial Planner - Answered on Apr 04, 2022

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
ARUN Question by ARUN on Apr 04, 2022Hindi
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Dear Mr Anil, I read your column with lot of interest. It is really very useful info.

My son and daughter were working in India and contributed for 2 years and 3 years in NPS 1 and 2. My son went to USA for studies and now started working; my daughter too is working in USA after marriage. They both also have PF accounts.

We have so far contributed to all these 3 schemes i.e. NPS1, 2 (aprrox 10K to 20K pa) and 1.5L each to PPF accounts so far. But, there is a doubt now due to their converting into NRI status.

Can they continue contributions to NPS 1, 2 and PPF accounts? They are filing returns so far but with NIL income (there is only a small interest income from their NRO accounts). We cannot even withdraw amount from NPS1.

Look forward to your expert opinion.

Ans: When a Resident Indian becomes NRI he will have to close the NPS account when his residency status changes. As an NRI, he can open another NPS account.

In case of PPF account, an NRI cannot open a new PPF account. But if he had opened a PPF account when he was a resident Indian, he needs to notify the bank regarding his change of status and he can hold that account till its maturity and can keep contributing after status change.

During withdrawal, the credit of this amount happens to one’s NRO account.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Sir, my son got, CSE in IIIT Bhagalpur which is Indian institute of information technology, under ppp mode with 50:35:15 , GOI, state govt and industry partnership. He also got CSE in IIIT bhubaneswar which state government funded institute. Which institute to join in terms of placement, studies. faculties, campus . Which institute tag hold greater value in long term job opportunities. Further he has the opportunity to get cse , in iiit kalyani, kottayam, ranchi if any upgradation to happen. Currently we are in floating mode, and will wait for last round. Can you please suggest for preference in order to freeze, among this 4 institute, or should we go for CSAB round , keeping the allotted seats. Kindly suggest since we need to take a decision within the time limit as per josaa schedule.
Ans: Bijay Sir, IIIT Bhagalpur’s CSE under the PPP model has rapidly emerged with a 95.4% placement rate in 2023, an average package rising to ?15.61 LPA, and a median of ?10 LPA, supported by strong GoI–state–industry collaborations, project-based learning and modern computing, AI/ML, and networking labs fostering research engagement. IIIT Kottayam, also in PPP mode, achieved an 83% placement rate in 2024 with a ?12.66 LPA average, backed by 86 recruiters, extensive AI/data science labs and industry-mentored internships for practical skill development. IIIT Kalyani’s CSE recorded an 89.33% placement rate and ?10.72 LPA average in 2024, with focused software engineering and cybersecurity labs, robust PhD-faculty mentorship, and growing research centres. IIIT Bhubaneswar, a fully state-funded IIIT, delivers a government-backed curriculum with specialized computing and networking infrastructure, but its CSE branch saw a 71% placement rate and ?9 LPA average in 2024, reflecting its nascent maturity compared to newer PPP institutes. Brand value and alumni networks at Bhagalpur and Kottayam are strengthening swiftly, while Kalyani offers balanced outcomes and Bhubaneswar promises stability under state funding.

For the strongest placement trajectory, industry partnership, and cutting-edge labs, the recommendation is IIIT Bhagalpur CSE. Next is IIIT Kottayam CSE for solid average packages and growing recruiter ties. Third, the recommendation shifts to IIIT Kalyani CSE for consistent outcomes and research focus. Lastly, IIIT Bhubaneswar CSE as a reliable state-funded option should upgrades not materialize. All the BEST for Admission & a Prosperous Future!

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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