|
Can NRIs keep deposits with companies in India with repatriation benefits?
General permission to Indian companies (including non-banking finance companies registered with Reserve Bank) has been granted to accept deposits from NRIs/PIOs/OCBs with repatriation benefits subject to certain conditions.
Do NRIs need permission of Reserve Bank for placing funds in fixed deposits with firms/companies on non-repatriation basis?
No. General permission has been granted to proprietorship concern or a firm in India to accept deposits from NRIs and to Indian companies (including non-banking finance companies registered with Reserve Bank) to accept deposits from NRIs/OCBs on non-repatriation basis subject to certain conditions.
Are NRIs permitted to invest in Commercial Paper (CP) issued by Indian companies?
Yes. General permission has been granted by Reserve Bank to Indian companies to issue CP to NRI individuals subject to the conditions that the amount invested will not be repatriated outside India and the CP will not be transferable.
|
