Knowledge Center
FAQ NRI's
 
Who can be called a Non Resident Indian (NRI)?
A non-resident Indian (NRI) is a person resident outside India who is an Indian citizen who stays abroad for employment / carrying on business or vocation outside India or stays abroad under circumstances indicating an uncertain duration of stay abroad or a person of Indian origin resident outside India and includes a student who has gone outside India for further studies.
Who can be called as a Person of India Origin (PIO)? Who is a Foreign Institutional Investor (FII)?
Who is a Foreign Institutional Investor (FII)?
Can an NRI maintain a bank account in India?
What are the different types of bank accounts permitted to be maintained by NRIs / PIOs?
What is the procedure for Investment of NRI / PIO / FII
Does an NRI, FII require any approval from the RBI to invest in mutual fund schemes?
Can an NRI invest in foreign currency?
Whether the income earned on Investments is repatriable?
Can NRI / PIO / FII make investments in a mutual fund in foreign currency? Can the foreign bank detail be given?
Can an NRI gift the units of a mutual fund to another NRI?
For an application for investment when will the NRI be allotted units?
What is the redemption procedure?
How will the redemption proceeds be paid?
What is the procedure for the repatriation of redemption proceeds?
What are the applicable provisions of direct taxes on mutual funds and NRI / PIO / FII?
Can an NRI fax a request followed by the original documents?
Can a Power of Attorney (POA) invest on behalf of the NRI investor?
Can a resident Indian have an NRI as nominee?