|
|
Other than
the Bank accounts NRE, NRO savings and term deposits,
Foreign currency accounts viz FCNR, RFC, etc, following
facilities are also available to NRIs and PIO and Bank
of Bahrain has a full fledged dedicated team to handle
the investments on behalf of the NRIs.
Investments
on repatriation basis :
- Government
dated securities/treasury bills.
- Units
of domestic mutual funds.
- Bonds
issued by a public sector undertaking (PSU) in India.
- Non-convertible
debentures of a company incorporated in India.
- Shares
in Public Sector Enterprises being dis-invested by the
Government of India, provided the purchase is in accordance
with the terms and conditions stipulated in the notice
inviting bids.
- Shares
and convertible debentures of Indian companies under FDI
scheme (including automatic route & FIPB).
- Shares
and convertible debentures of Indian companies through
stock exchange under Portfolio Investment Scheme.
- Perpetual
debt instruments and debt capital instruments issued by
banks in India.
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,
not engaged in any agricultural or plantation activity
or real estate business.
-
Deposits with a company registered under the Companies
Act, 1956 including NBFC registered with RBI, or a body
corporate created under an Act of Parliament or State
Legislature, a proprietorship concern or a firm out
of rupee funds which do not represent inward remittances
or transfer from NRE/FCNR(B) Accounts into the NRO Account.
-
Commercial Paper issued by an Indian company.
-
Shares and convertible debentures of Indian companies
other than under Portfolio Investment Scheme.
Investment
in immovable Property :
-
NRIs may acquire immovable property in India other than
agricultural land/ plantation property or a farm house
out of repatriable and non-repatriable funds.
In respect of such investments 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 that :
Refund of (a) application / earnest money / purchase
consideration made by house-
building agencies/seller on account of non-allotment
of flats / plots and
(b) cancellation of booking/deals for purchase of residential/commercial
properties, together with interest, net of taxes, provided
original payment is made
out of NRE/FCNR(B) account/inward remittances.
- Housing
Loan in rupees availed of by NRIs from ADs / Housing Financial
Institutions
can be repaid by the close relatives in India of the borrower.
|
