NRI Services

Non-Resident Indians (NRIs) have unique banking and investment needs. Because they live overseas, most of their earnings and assets is in international currencies, such as the US dollar, Euro, and so on. As a result, NRIs might need an account that can hold and convert their securities and money in Indian rupees.General Conditions for Purchase with Repatriation or Non-Repatriation rights NRIs/OCBs will be permitted to make portfolio investment in shares/debentures (convertible and non-(convertible) of Indian companies, with or without repatriation benefits provided the purchase is made through a stock exchange and also through a designated branch of an authorised dealer. NRIs/OCBs are required to designate only one branch authorised by Reserve Bank for this purpose.

Investment in equity shares and convertible debentures will be permitted subject to an overall ceiling of (a) 10 percent of the total paid-up equity capital of the company concerned; and (b) 10 per cent of the total paid-up value of each series of the convertible debentures issued by the company concerned for all NRIs/OCBs taken together both on repatriation and on a non-repatriation basis.

NRIs/OCBs intending to invest on non-repatriation basis should submit their applications in Form NRI and NRC respectively, through a designated branch of an authorised dealer, to Reserve Bank (Central Office).Reserve Bank will grant general permission to the concerned authorised dealer to purchase shares/debentures of Indian companies, securities (other than bearer securities) of the Central or any State Government and Treasury Bills on behalf of the NRI/OCB subject to the condition that the payment for such investment is received through inwardremittance or from the investor’s NRE/FCNR/NRO/NRSR account.