A Person of Indian Origin means a citizen of any country (other than Bangladesh or Pakistan),if:
1. He/she at any time held an Indian passport; or
2. He/she or either of his/her parents or grand parents was a citizen of India by
virtue of Constitution of India or the Citizenship Act,1955 (57 of 1955);
or
3. He/she is a spouse of an Indian citizen, or of a person referred to in (a) or (b) above.

FII means an institution established or incorporated outside India, which proposes to make investments in Indian securities and is registered with SEBI.

Yes. NRI’s can maintain accounts in rupees as well as in foreign currency. Accounts in foreign currencies can, however be maintained in India with authorized dealers only.

Yes. The following summary outlines the various provisions related to investments by Non-Resident Indians (‘NRIs’), Persons of Indian Origin (‘PIOs’) and Foreign Institutional Investors (‘FIIs’) in the Schemes of the Mutual Fund and is based on the relevant provisions of the Income-tax Act, 1961 (‘the Act’), regulations issued under the Foreign Exchange Management Act, 1999 and the Wealth-tax Act, 1957 (collectively called ‘the relevant provisions’).

NRIs can invest in Mutual funds on a Repatriable/Non-Repatriable basis as per the provisions of Schedule 5 of the Foreign Exchange Management (Transfer or issue of Security by a Person Resident Outside India) Regulations, 2000 (‘the Regulations’) as explained below.

A Common Application Form duly completed along with cheque or bank drafts should be submitted at Investor Service Centres. The cheque should be made payable at a city where the application is accepted.