News & Updates  

  • AMFI demands SEBI focus on rescue of MF sector
  • Allahabad Bank eyes 21% credit growth
  • Fiat cuts India distribution tie with Tata Motors
  • SBI hikes rates by 75-175 bps in its FCNR and RFC deposits
  • iGATE removes Patni from brand name
  • Coal at cheaper rates to meet power requirements: Govt
  • Aim to improve cash flow from operations: Godrej Properties
  • RBI eases norms to encourage foreign currency flows
  • India rejects USD 1bn Reliance cost recovery plan
  • SSTL files petition in SC; Uninor challenges TRAI recos
  • Finance minister says Inflation to remain around 6.5% - 7.5% in current fiscal
  • Imposition of GAAR provisions extended by one year - from April 2013 to April 2014
  • Amendment to Finance Bill 2012 proposes to shift onus of proving to tax authority instead of tax payer
  • Amended Bill introduces new section 80CCG, wherein deduction frm investment in listed equity shall be allowed to the extent of 50% not exceeding Rs. 25000/-
  • Realty Fund Managers start offering choice of projects to invest in, earlier lacklustre returns is the cause
  • In first two months of the current fiscal, corporate tax collection down by 2.82%
  • India’s oil import bill rises 40% in 2011 – 12
  • Jyoti Labs to merge Henkel India with itself
  • Pledge of securities by promoters at all time high at end of March quarter
  • Corporates raise 33% more in debt from public as compared to equity offerings
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Liberalized economic conditions have opened immense opportunities for investing and generating wealth from wide ranging options in India , this may be the opportune time to contribute in the growth along with generation of revenue by diverting a part of investment portfolio to India .

NRIs – Non Resident Indians can invest in almost all the available avenues of investments in India requiring no specific permission from regulatory authorities barring rare exceptions. These investments can be done through bank accounts being either NRE, NRO or FCNR accounts. These three types of accounts have features pertaining Indian or foreign currency holdings with repatriation or non repatriation benefits, details can made available against specific enquiry. Investments made by NRIs are eligible for tax exemption under Income Tax Act 1961. Get in touch with us if India interests you.

Facilities available to Non-Resident Indians (NRIs)/Persons of Indian Origin (PIO) for investments in India

I. Bank Accounts and Deposits

a) Non-Resident (External) Rupee (NRE) Accounts (Principal / Interest Repatriable)
  • Savings - The interest rates on NRE Savings deposits shall be at the rate applicable to domestic savings deposits. Currently the interest rate is 3.5%.
  • Term deposits – For 1 year to 3 years, the interest rates on fresh repatriable Non-Resident (External) Rupee (NRE) Term deposits should not exceed the LIBOR/SWAP rates, as on the last working day of the previous month, for US dollar of corresponding maturity plus 50 basis points.

The interest rates as determined above for three year deposits should also be applicable in case the maturity period exceeds three years.

The changes in interest rates will also apply to NRE deposits renewed after their present maturity period.

b) FCNR (B) (Principal/Interest Repatriable)

Deposits of funds in the account may be accepted in such permissible currencies as may be designated by the Reserve Bank from time to time.

  • Presently the term deposit can be placed with ADs in India in 6 specific foreign currencies (US Dollar, Pound Sterling, EURO, Japanese Yen, Australian Dollar and Canadian Dollar).
  • Rate of Interest - Fixed or floating within the ceiling rate of LIBOR/SWAP rates for the respective currency/corresponding term minus 25 basis points.
  • Maturity of deposits: 1-5 years.

c) NRO Accounts (Current earnings repatriable)

  • Savings - Normally operated for crediting rupee earnings / income such as dividends, interest. Currently the interest rate is 3.5 per cent.
  • Term Deposits - Banks are free to determine interest rates.

d) Repatriation from NRO balances

Authorised Dealers can allow remittance/s upto USD 1 million per financial year (April-March) for bonafide purposes, from balances in NRO accounts subject to payment of applicable taxes. The limit of USD 1 million per financial year includes sale proceeds of immovable properties held by NRIs/PIO.

II. Other Investments on repatriation basis

  • Government dated securities/treasury bills.
  • Units of domestic mutual funds.
  • Bonds issued by a public sector undertaking (PSU) in India.
  • Non-convertible debentures of a company incorporated in India.
  • Shares in Public Sector Enterprises being dis-invested by the Government of India, provided the purchase is in accordance with the terms and conditions stipulated in the notice inviting bids.
  • Shares and convertible debentures of Indian companies under FDI scheme (including automatic route & FIPB).
  • Shares and convertible debentures of Indian companies through stock exchange under Portfolio Investment Scheme.
  • Perpetual debt instruments and debt capital instruments issued by banks in India.

III. Other Investments on non-repatriation basis

  • Government dated securities (other than bearer securities)/treasury bills.
  • Units of domestic mutual funds.
  • Units of Money Market Mutual Funds in India.
  • Non-convertible debentures of a company incorporated in India.
  • The capital of a firm or proprietary concern in India, not engaged in any agricultural or plantation activity or real estate business.
  • Deposits with a company registered under the Companies Act, 1956 including NBFC registered with RBI, or a body corporate created under an Act of Parliament or State Legislature, a proprietorship concern or a firm out of rupee funds which do not represent inward remittances or transfer from NRE/FCNR(B) Accounts into the NRO Account.
  • Commercial Paper issued by an Indian company.
  • Shares and convertible debentures of Indian companies other than under Portfolio Investment Scheme.

IV. Investment in immovable Property

  • May acquire immovable property in India other than agricultural land/ plantation property or a farm house out of repatriable and non-repatriable funds.

In respect of such investments NRIs are eligible to repatriate

  • Sale proceeds of immovable property acquired in India to the extent of repatriable funds used for acquiring the property, up to two residential properties. The balance will be repatriable through NRO Account subject to conditions mentioned at item (I) (d).
  • Refund of (a) application / earnest money / purchase consideration made by house-building agencies/seller on account of non-allotment of flats / plots and (b) cancellation of booking/deals for purchase of residential/commercial properties, together with interest, net of taxes, provided original payment is made out of NRE/FCNR(B) account/inward remittances.
  • Housing Loan in rupees availed of by NRIs from ADs / Housing Financial Institutions can be repaid by the close relatives in India of the borrower.

V. Facilities to returning NRIs/PIO

Returning NRIs/ PIO

  • May continue to hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India, if such currency, security or property was acquired, held or owned when resident outside India.
  • May open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to transfer balances held in NRE/FCNR(B) accounts. Proceeds of assets held outside India at the time of return, can be credited to RFC account. The funds in RFC accounts are free from all restrictions regarding utilisation of foreign currency balances including any restriction on investment in any form outside India.


A Non Resident Indian (NRI) as per FEMA 1999 is an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period. An individual will also be considered NRI if his stay in India is less than 182 days during the preceding financial year.

A Person of Indian Origin (PIO) is a citizen of any country other than Pakistan, Bangladesh or Sri Lanka


  • At any time held an Indian Passport,
  • He or any of his parents or grand parents was a citizen of India,
  • Is a spouse of an Indian Citizen or a person referred to above


Ours is an guiding role. The final decision and consequences based on our information is solely yours. Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Investments in Mutual Funds are subject to market risks. Please read the offer document carefully before investing. Insurance is a subject matter of Solicitation