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Can my NRI daughter Invest in MFs?

If the investment has to be made on a repatriable basis, then cheques will have to be drawn on FCNR/NRE bank accounts

My daughter is an NRI and she is working in Singapore for the last one year.Can she purchase equity shares and mutual funds in her name and by using her Indian back account and Indian address. How to deal with her old holdings in mutual funds which were purchased when she was an Indian resident. Can she sell/switch them?
- Neena Agarwal

Your daughter can invest as NRIs are allowed to invest in mutual funds in India. If the investment has to be made on a repatriable basis, then cheques will have to be drawn on FCNR/NRE bank accounts. And if the investment is to be made on a non-repatriable basis then payment can be made out of NRO/NRSR accounts.

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