2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As per the RBI, which nation has emerged as a top nation in making non-resident investments in Indian mutual funds?
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Singapore
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UAE
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UK
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USA
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Explanation:
Detailed explanation-1: -Effective from April 24, 2004, NBFCs cannot accept deposits from NRIs except deposits by debit to NRO account of NRI provided such amount does not represent inward remittance or transfer from NRE/FCNR (B) account. However, the existing NRI deposits can be renewed.
Detailed explanation-2: -Ans Yes, NRI can purchase shares or convertible debenture of an Indian Company through stock exchanges, under the portfolio investment scheme on repatriation and /or non repatriation basis.
Detailed explanation-3: -The aggregate industry-level limit for investing in overseas securities and mutual funds is $7 billion, which is $1 billion for each fund house.
There is 1 question to complete.