New York, Michigan, California, Florida, Illinois, New Jersey, Texas, Virginia, Pennsylvania, Georgia, Maryland
Country: United States
Question: Can NRIs make investments in National Savings Certificates issued by Post Offices in India?
Raju Kanumuri: Yes. Investments in National Savings Certificates can be made by NRIs subject to the terms and conditions applicable to the sale/issue of such certificates. However, NRIs are not permitted to invest in bearer securities like Indira Vikas Patra/Kisan Vikas Patra.
Source : Reserve Bank Of India
Q: Can OCI buy life insurance in India?
A: You can buy insurance in India from any insurance company of your choice. Just call the company and their agents will virtually line up to sell you a policy. Get answers to all your questions...
Q: What will be status of OCI when living in India?
A: When you live in India your status in India will be that of any other Indian resident for day to day activities. Technically you will always be a person of Indian Origin(PIO) because even though...
Q: How to correct OCI application errors submitted online?
A: If you find errors in your application that you have filed on-line, and you catch this error before you mail in your documents, you should not send in the Forms you printed with the wrong...
Q: Can an NRI sell property in India without PAN card or PIO and OCI card?
A: Even though you don't have PIO or OCI, your status when in India will be a Person of Indian Origin. Anyone who normally has Indian family links or was born in India is considered to be a person of...
Q: Who is a person of Indian Origin?
A: For the purposes of Availing of the facilities of opening and maintenance of bank accounts and investments in shares/securities in India: A foreign citizen (other than a citizen of Pakistan or...
Q: Are OCBs required to produce any certificate regarding ownership / beneficial interest in them by NRIs?
A: Yes. In order to establish that the ownership/beneficial interest in any OCB held by NRIs is not less than 60%, the concerned body/ trust is required to furnish a certificate from an overseas...
Q: Are persons resident in India required to surrender foreign exchange acquired/held by them?
A: Yes. Residents receiving foreign exchange from abroad by way of gift, inheritance, remuneration for services rendered, etc. are required to bring it to India within three months acquiring the...
Q: Are Returning Indians permitted to acquire fresh foreign currency assets by remittance from India?
A: Yes, provided the funds for the purpose are drawn out of their Resident Foreign Currency Accounts
Source : Reserve Bank Of India
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