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The Indian government yesterday announced a reduction in the fee on cards
issued under the Persons of Indian Origin (PIO) scheme from 1,000 US dollars
to that equivalent to Rs 15,000. According to Indian media reports, the
decision was taken at a meeting of the Union Cabinet chaired by Prime
Minister Atal Bihari Vajpayee.
Earlier PIO cards were issued for a period of 20 years and the fee charged
was 1,000 dollars. According to the Cabinet decision, the card would now
onwards be valid for 15 years only and the fee would be dollar equivalent of
Rs 15,000. Minors would be charged half the rate.
The move comes in the wake of pleas by NRIs against the "exhorbitant rates"
charged for the cards.
- nriol.com report
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