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,
A Non-resident Indian or an Overseas Corporate Body who purchases securities on repatriation basis, shall make payment either by
Inward remittance through normal banking channels or
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:
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,.
A Non-resident Indian or an Overseas Corporate Body who purchases securities on non-repatriation basis, has to make payment either by
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.
The net sale / maturity proceeds (after payment of taxes) of such securities sold, can be
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
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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