Facilities available to NRIs, PIO for investment in India

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..... sits - 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 excee .....

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..... / 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 milli .....

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..... 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, .....

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..... vestments 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 age .....

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..... 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.
Manuals, Ready reckoner, Law and practice, Reference Gu .....

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