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Ch.9 · KYC and Folio Management · medium

Which bank account types can NRIs use to invest in Indian mutual funds?

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EXPLANATION

NRIs can invest through NRE (Non-Resident External), NRO (Non-Resident Ordinary), or FCNR (Foreign Currency Non-Resident) accounts maintained with an Indian bank. Direct remittance from overseas bank accounts is generally not accepted.

A.NRE, NRO, or FCNR accounts [✓ Correct]

B.Only NRO accounts

C.Only NRE accounts

D.Any overseas bank account with SWIFT transfer

EXPLANATION

NRIs can invest through NRE (Non-Resident External), NRO (Non-Resident Ordinary), or FCNR (Foreign Currency Non-Resident) accounts maintained with an Indian bank. Direct remittance from overseas bank accounts is generally not accepted.

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