Which of the following is NOT a permissible investment for NRI/OCI on a repatriation basis?a) Bonds issued by a Public Sector Undertaking (PSU) in Indiab) Shares in Public Sector Enterprisesc) Units of domestic mutual fundsd) Government dated securities
Question
Which of the following is NOT a permissible investment for NRI/OCI on a repatriation basis?a) Bonds issued by a Public Sector Undertaking (PSU) in Indiab) Shares in Public Sector Enterprisesc) Units of domestic mutual fundsd) Government dated securities
Solution
The answer to your question is d) Government dated securities. Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) are not allowed to invest in government dated securities on a repatriation basis. This means they cannot take the principal and the returns back to their country of residence. However, they can invest in bonds issued by a Public Sector Undertaking (PSU) in India, shares in Public Sector Enterprises, and units of domestic mutual funds on a repatriation basis.
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