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Q: Can a Power of Attorney (POA) invest on behalf of the NRI investor?
A: Yes. Unlike banks where a POA holder cannot open an account on behalf of the NRI, in a mutual fund the POA has the authority to invest on behalf of the investor and sign documents for initial and...
Q: What is the procedure for the repatriation of redemption proceeds?
A: Investments made on Repatriation basis
Under the exchange control regulations, general permission is granted to authorized dealers to allow repatriation of proceeds of investments made under...
Q: For an application for investment when will the NRI be allotted units?
A: If an application is received before the prescribed cut-off timings on any business day, the allocation of units will be at the applicable NAV adjusted for entry load, if any on the particular...
Q: Are NRIs allowed to make nomination for their mutual fund accounts?
A: Yes, all the NRIs are allowed to have a nominee(s) in their mutual fund account to whom the Mutual Fund units will be transferred after the holder’s death in case of a single holder. But, if it is...
Q: Is an NRI permitted to make investments in foreign currency?
A: As per the mutual fund investment rules for NRIs, they are not allowed to invest in any currency other than Indian Rupees.
Q: Does an NRI have access to all the mutual fund schemes?
A: Yes, an NRI can invest in any of the mutual fund schemes operating in the Indian mutual fund industry. However, they will not get any tax benefit for even after investing in ELSS fund and they are...
Q: How can an NRI investor track his/her investments?
A: The client can take up the online method of investing and monitoring to maintain a track record of the schemes in which he/she has invested. All they have to do is to get a user id and password,...
Q: Can NRIs permitted to invest in air taxi operations?
A: Yes. Investments up to 100% equity participation for carrying on Air Taxi operations are permitted in terms of the guidelines issued by the Director General of Civil Aviation for Air Taxi...
Q: Is repatriation of the original investment and or dividend income be freely permitted?
A: Yes. Repatriation of original investment will be permitted after a lock-in period of three years from the date of issue of the equity shares/convertible debentures. In addition, OCBs will be...
Q: How can an NRI obtain the permission of Reserve Bank for investment in a sick industrial unit?
A: Application for necessary permission should be made by the Indian company to the Central Office of Reserve Bank in Mumbai in form RSU.
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