These documents are the standard compliance forms required by State Bank of India (SBI) to manage Non-Resident Indian (NRI) accounts under global data protection laws like the EU GDPR and UK GDPR.

If you are opening an account or updating your KYC, you must select the correct form based on your current country of residence.

---

1. Privacy Notices (For Your Information)

These explain how SBI handles your Personal Data (PD). You do not need to sign these, but you are required to acknowledge that you have read them when signing the consent forms.

• Privacy Notice for EU NRI Customers (v2.0)

  • Regulatory Focus: EU General Data Protection Regulation (GDPR).

  • Key Detail: Explains the right to “be forgotten,” data rectification, and the 10-year data retention policy.

• Privacy Notice for UK NRI Customers (v2.0)

  • Regulatory Focus: UK Data Protection Act 2018 and UK GDPR.

  • Key Detail: Outlines how the bank uses your data for fraud prevention and credit scoring within the UK legal framework.

---

2. Consent Forms (Action Required)

These are the legal documents you must sign and submit to the bank.

• Consent Form for EU & UK NRI Customers (v2.0)

  • Who signs: Residents of the European Union or United Kingdom.

  • Critical Disclosure: You are explicitly consenting to your data being transferred to India. It notes that India’s privacy laws may be different from the strict protections in the EU/UK.

  • Minor Clause: Includes a section for legal guardians if the account holder is under 18.

• Consent Form for NRI Customers Other than EU & UK

  • Who signs: Residents of the USA, Canada, UAE, Singapore, etc.

  • Key Detail: Focuses on permissions for sharing data with Indian credit bureaus (like CIBIL) and regulatory bodies for identity verification.

---

Summary of Requirements

Your Current Residence	Document to Read	Form to Sign & Submit
EU Countries	Privacy Notice for EU NRI	Consent Form for EU & UK
United Kingdom	Privacy Notice for UK NRI	Consent Form for EU & UK
Rest of the World	Standard SBI Privacy Statement	Consent Form other than EU & UK

Executing a Power of Attorney (POA) for an NRI home loan involves specific procedures depending on whether the document is signed within India or abroad.

The following are the key points regarding the standard procedure and requirements:

General Requirements for the POA Holder

• Residency: In all cases, the appointed Power of Attorney holder must be a resident of India.

• Identification: A photograph of the POA holder must be pasted on the document and attested by the person(s) making the POA (the executants).

Execution Inside India

• Documentation: The POA must be on a prescribed format using non-judicial stamp paper of the appropriate value based on the state of execution.

• Attestation: The signature of the executants must be attested by a Notary Public or a Judicial Magistrate.

• Signing: The executants must sign every page of the Power of Attorney.

Execution Outside India

• Location of Signing: The executant must sign the POA in the presence of an official from the Indian Embassy, Consulate, or High Commission in their country of residence.

   

• Official Attestation: The embassy or consulate official will attest the signatures.

• Stamp Duty: While it can be executed on plain paper abroad, the appropriate stamp duty must be paid in India within three months of receiving the document and before the loan documents are executed.

   

• Signing: Similar to execution in India, the maker must sign every page of the document.

Loan Disbursement Process

• Verification: After the POA holder executes the loan documents, the bank will obtain a direct confirmation from the NRI executant using a prescribed format.

   

• Condition for Funds: Loan disbursement occurs only after the bank receives this confirmation letter from the NRI borrower.

Scope of the Attorney’s Power

The POA holder is authorized to perform several critical tasks, including:

• Executing all deeds and documents required by the bank for the home loan.

   

• Depositing original title deeds to create a mortgage (security) on the property.

   

• Appointing advocates or solicitors and paying their fees.

• Obtaining necessary clearances or permissions from relevant authorities regarding the property.