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Non-Resident Ordinary (NRO) Account |
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Non-Resident External (NRE) Account |
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Foreign Currency Non Resident (FCNR) Account. |
The NRO / NRE accounts are maintained in rupees and the funds remitted will thus be converted into India rupees at the spot exchange rate.
For FCNR, the deposit can be maintained in the currency of your choice i.e. USD, GBP, EUR, AUD and
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Investments by NRIs in Mutual Funds can be made on a repatriable or on a non-repatriable basis, as preferred by the investor
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Repatriable basis
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To invest on a repatriable basis, you must have an NRE or FCNR Bank Account in India. The Reserve Bank of India (RBI) has granted a general permission to Mutual Funds to offer mutual fund schemes on repatriation basis, subject to the following conditions:
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The mutual fund should comply with the terms and conditions stipulated by SEBI.
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The amount representing investment should be received by inward remittance through normal banking channels, or by debit to an NRE / FCNR account of the non-resident investor
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The net amount representing the dividend / interest and maturity proceeds of units may be remitted through normal banking channels or credited to NRE / FCNR account of the investor, as desired by him subject to payment of applicable tax
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Non-repatriable basis
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The Reserve Bank of India (RBI) has granted a general permission to Mutual Funds to offer mutual fund schemes on non-repatriation basis, subject to the following conditions:
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Funds for investment should be provided by debit to NRO account of the NRI investor. Alternatively, funds may be invested by inward remittance or by debit to NRE / FCNR Account
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The current income in the form of dividends is allowed be repatriated
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| Investment Opportunities: |
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Real Estate: Primary and Secondary Market |
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Share and Debentures: Primary and Secondary Mkt |
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Mutual Funds |
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Derivative Contracts |
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Commercial Papers |
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Government Dated Securities, T-bills etc |
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