The State Bank of India, ICICI Bank, HDFC Bank, IndusInd Bank, ABN Amro and others are all set to hardsell themselves to pravasis in the Gulf at the two-day 'NRI Money Show 2003' beginning June 27 in Dubai.
Leading insurers, financial institutions and housing finance companies from India are also expected to participate in the show organised by Khaleej Times, official sources said.
Leading the Indian banks and financial institutions, SBI would showcase its products for NRIs along with that of its subsidiaries SBI Life and SBI Mutual Fund.
The country's leading bank is sending two of its senior officials -- M C Dwivedi, deputy general manager (Mumbai) and G C Jashnani, assistant general manager (Delhi) to represent the bank at the Dubai show.
"NRI deposits in the country is at an all-time high. A bulk of it comes from the Gulf region as growth in remittances from US and EU have somewhat slowed down," Jashnani said.
Of late, NRIs are showing keen interest in insurance products of Indian companies as they can pay premium through the Internet.
Moreover, there has been renewed interest in mutual fund schemes of UTI and other private players.
Some of the Pravasi Bharatiyas are even keen to book a flat or buy a house through the housing finance companies and banks, which offer value-added services like 'Home Search' apart from providing loans.
The NRI Money Show, which was attended by over 3,000 NRIs last year, offers a platform for banks to interact with their clients.