Can NRIs/OCBs buy on repatriable basis ?
Yes. You are allowed to buy under this scheme on Repatriable basis and also on Non Repatriable basis, if you choose. The following forms need to be submitted to “Authorised Dealers” by NRIs/OCBs for this purpose. • FORM – NRI & RPI – by individual NRIs. • FORM – NRC & RPC – by Overseas Corporate Bodies Q3) How long is the validity of such RBI permission ? A) RBI gives general permission for a period of 5 years initially and the same can be renewed further by making a request by means of a simple letter. Q4) What is the quantum limit for investing under Portfolio Investment Scheme ? A)The following rules govern the quantum limits: • Investment made by a single NRI, OCB can be upto 5% of the paid up capital of the company. • The aggregate limit for all NRIs, OCB investment through secondary market is upto 10% of the paid up equity capital. • The aggregate investment by all NRIs, OCBs and FIIs through stock exchanges can be upto the enhanced limit of 24%/30% (subject to the General Body R
