img
img
img

NRI

FREQUENTLY ASKED QUESTIONS

  • Who is a Non-Resident Indian (NRI)
    A non-resident Indian (NRI) is an Indian citizen or a foreign citizen of Indian origin who stays abroad for employment/carrying on business or vocation or under circumstances indicating an intention for an uncertain duration of stay abroad is a NON-RESIDENT INDIAN (NRI).
  • Who is a Person of Indian Origin (PIO)
  • Who is a Foreign Institutional Investor (FII).
  • Can an NRI maintain a bank account in India.
  • What are the different types of rupee accounts that can be maintained by NRIs.
  • What are NRE, NRO and FCNR accounts.
  • How do NRE and NRO accounts differ.
  • Can an NRI, and FIIs invest in mutual funds in India.
  • Whether NRI, PIO and FII require any approval from the RBI to invest in mutual funds.
  • Whether NRIs can invest in foreign currency.
  • What is the mode of payment for Repatriation and Non-Repatriation Basis.
  • Will the fund accept an NRI application with an overseas bank account detail.
  • How will the redemption proceeds be paid.
  • How can the redemption proceeds be repatriated.
  • Will you transfer money to an investor's overseas account.
  • What is the tax liability on redemptions.
  • What is the tax liability for income received from your mutual funds.
  • Is the indexation benefit available to NRIs.
  • Are fund units liable to the wealth tax.
  • Can a fund dividend in an NRO account be repatriated.
  • Can an NRI fax a request followed by the original documents.
  • Can a Power of Attorney (POA) invest on behalf of the NRI investor.