Does an NRI, FII require any approval from the RBI to invest in mutual fund schemes?
No special approval is required. NRI s/PIO s/FII s have been granted a general permission by RBI [Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000] for investing in /redeeming units of the schemes subject to conditions set out in the aforesaid regulations.
