Does an NRI, FII require any approval from the RBI to invest in mutual funds
Question: Does an NRI, FII require any approval from the RBI to invest in mutual funds?
Raju Kanumuri: No special approvals are required for NRIs, PIOs, FIIs.RBI has granted general permission for investing/redeeming units of the funds subject to conditions.
Q: What is an Initial Public Offering (IPO)?
A: When an unlisted company makes either a fresh issue of securities or offers its existing securities for sale or both for the first time to the public, is called an IPO. This is used for listing and...
Q: Can NRI trade in ETF?
A: Yes, NRIs can trade in ETF.
Q: What are the regulations regarding NRI investments in shares?
A: * Daily square off is not allowed for NRI i.e intraday trades are not allowed for NRI clients.
* Clients can trade on delivery basis
* All contract notes of either buy or sell has to be reported...
Q: What are the steps than an NRI has to follow for equity trading?
A: * Open a bank account with an approved designated bank branch
* Take approval of designated branch for investments in Indian stock market
* Open a demat account with a depository participant.
Q: Can OCI holders open PPF account in India?
A: OCI holders who are living in India are considered to be residents in India. Their status is no longer that of a Non-Resident (NRI). Therefore they can open PPF account in India.
While we are on...
Q: What are the step by step instructions to replace lost OCI card?
A: Before a lost OCI card can be replaced,
Applicants should file a police report. To apply for a replacement OCI Card, applicants will have to provide a copy of the complaint filed with the police....
Q: Can i repatriate funds in the NRI account?
A: The principal as well as the interest of the funds in an NRI account can be repatriated only if a person holds either an NRE account or an FCNR account. In case of an NRO account, only interest...
Q: Are there any prohibitions on the purpose for which loans cannot be taken?
A: The loans cannot be utilized for the purpose of re-lending or for carrying on agriculture or plantation activities or for investment in real estate business.