Non-Resident Indians (NRIs) have one more investment option to choose from. The Reserve Bank of India has allowed NRIs to invest in the National Pension System (NPS), under FEMA. NPS will allow NRIs to invest in a mix of equities and debt and save for their retirement. But will it be attractive for this class of investors?
The subscription amounts shall be paid by NRIs either by inward remittance through normal banking channels or out of funds held in their NRE/FCNR/NRO accounts. There shall be no restriction on repatriation of the annuity/ accumulated savings, says RBI.
