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NRI Services
NRI
Money Transfer
Property
Loan
Deposit
Mutual Funds
Insurance
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RBI guidelines for NRIs
for investments in Mutual Funds:
If you want to invest in Mutual Funds on
a repatriable basis:
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A Non-resident Indian (NRI) or an Overseas Corporate
Body (OCB) is permitted to purchase the following, without limit,
on repatriation basis , units of domestic mutual funds, units
of Money Market Mutual Funds in India,.
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A Non-resident Indian or an Overseas Corporate
Body who purchases securities on repatriation basis, shall make
payment either by
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Inward remittance through normal banking channels
or
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Out of funds held in his / its NRE / FCNR account.
A person resident outside India who has purchased
securities in accordance with this Schedule is permitted to tender
units of mutual funds to the issuer for repurchase or for payment
of maturity proceeds.
The net sale/ maturity proceeds (after payment of taxes) of such
securities sold, can be remitted abroad or at the NRI or OCB investor's
option, credited to his / its NRE / FCNR / NRO / NRSR / NRNR account.
If you want to invest in Mutual Funds on
a non-repatriable basis:
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A Non-resident Indian or an Overseas Corporate
Body is permitted, without limit, to purchase on non-repatriation
basis, units of domestic mutual funds, units of Money Market
Mutual Funds in India,.
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A Non-resident Indian or an Overseas Corporate
Body who purchases securities on non-repatriation basis, has
to make payment either by
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Inward remittance through normal banking channels
or
- Out of funds held in his / its NRE / FCNR / NRO
/ NRSR / NRNR account.
A person resident outside India who has purchased
securities in accordance with this Schedule is permitted to tender
units of mutual funds to the issuer for repurchase or for payment
of maturity proceeds.
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The net sale / maturity proceeds (after payment
of taxes) of such securities sold, can be
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Credited only to NRSR account of the NRI investor
where the payment for purchase of securities sold was made out
of funds held in NRSR account, or
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Credited, at the NRI or OCB investor's option,
to his / its NRO or NRSR account, where the payment for the
purchase of the securities sold was made out of funds held in
NRO account.
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