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?

Answer(s)

Raju Kanumuri: No special approvals are required. NRIs/FIIs have been granted general permission by RBI for investing in/redeeming units of funds subject to conditions set out in the aforesaid regulations.

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