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How Can NRIs Register a Mandate Holder / Power of Attorney
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A Mandate Holder is a resident Indian authorised to operate your NRO/NRE account in India. They can perform limited functions like bill payments, cheque deposits, and withdrawals. They cannot repatriate funds or invest on your behalf.
A legal document allows someone in India to act on your behalf for financial, legal, or property matters. It is broader in scope than a mandate holder and legally binding once registered.
It means the authority given to a person to operate your NRI account has been officially cancelled. This must be documented and updated with the bank to prevent misuse.
Yes. Many NRIs appoint a mandate holder for banking needs and a PoA holder for property or legal matters. The two roles are distinct and must be documented separately. Make sure your bank and legal advisor are aware of both appointments to avoid confusion or duplication of authority.
Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
As an NRI managing finances in India, you've likely faced challenges—such as needing someone to sign a document at your bank, withdraw cash during a family emergency, or handle property paperwork when you simply can't be there in person.
You can avoid these challenges by registering a trusted individual as a mandate holder or power of attorney with your bank. Both give someone you trust the authority to act on your behalf, but the rights, risks, and processes are quite different.
At Kotak Mahindra Bank, we understand how crucial it is for NRIs like you to have reliable support in India, without compromising security or control. So, we've put together this comprehensive guide.
We'll walk you through everything you need to know about mandate holders and Power of Attorney, how to register them with Kotak Mahindra Bank, and the legal requirements you need to follow.
Whether this is your first time or you need a refresher, this guide will help you make the right choice confidently and legally.
Table of Content:
Mandate Holder vs Power of Attorney: What’s the Difference?
A Mandate Holder in an NRI account is essentially your banking representative. They can handle day-to-day account activities like cash withdrawals/deposits, drawing cheques for local payments, and paying utility bills. But they cannot repatriate funds abroad, take a loan on your behalf or make investment decisions.
A Power of Attorney, on the other hand, gives someone much broader legal authority. Depending on how you draft it, they can manage property transactions, represent you in legal matters, and handle complex financial decisions.
They must be residents in India and willing to act in a fiduciary capacity. Individuals may also appoint institutional entities like Kotak Securities/ Kotak Wealth Management as mandate holder/POA to manage investment portfolios on behalf of the account holder.
Please note the following:
Step-by-Step Process to Appoint a Mandate Holder for an NRI Account
Appointing a mandate holder allows an NRI to delegate limited account access to a resident Indian for basic banking operations.
Customers can appoint mandate holders through the following steps:
Step 1: Prepare all required documents:
Step 2: Visit any branch and submit the documents listed above
For deletion of mandate/POA, holder request letter signed by all holders to be obtained
How to Register your Power of Attorney with the Bank
Please note: You will have to give the power of attorney to a person first. You can only register a person as your PoA after that is complete.
As an NRI you may empower someone in India to act on your behalf, whether for property, finance, court appearances, or transactions.
Step 1: Keep the following documents ready
POAs, unlike Mandate holders, are customer specific. If a customer registers a POA, the POA holder can only act on behalf of the customer who is giving the power of attorney, not any other joint account holders that may be present
Step 2: Visit any branch and submit your documents. The original POA will be verified by the branch.
Important Notes:
Summary: Choose the Right Option Based on Your Needs
Managing your Indian finances from abroad doesn't have to be stressful or complicated. With the right mandate holder or Power of Attorney setup, you can handle everything smoothly and stay compliant with all regulations.
The key is choosing the right person and getting the documentation right the first time. Take your time, follow the proper procedures, and don't hesitate to ask for help when you need it.
Before you appoint either:
Whether you live in the UAE, UK, US, or Singapore—this step empowers you to manage your Indian affairs confidently, even when you're miles away.
Choose wisely and ensure everything is properly documented.
For tailored assistance, documentation, or legal-format PoA templates, Kotak Mahindra Bank’s dedicated NRI support team and Relationship Managers are available to guide you — every step of the way.
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